Stein Mart (NASDAQ: SMRT) reported Q2 EPS of ($0.02), versus ($0.28) reported last year. Revenue for the quarter came in at $310.9 million, versus $311 million reported last year.

Outlook:

We are projecting EBITDA in excess of $45 million for fiscal 2018 compared to $7 million for fiscal 2017. For the second half, we expect operating income compared to an operating loss of $19.8 million last year. Historically, our third quarter has been a seasonally challenged period with high clearance selling. We anticipate an operating loss of approximately $10 million in the third quarter that will be more than offset by fourth quarter earnings.

We expect the following factors to influence our second half results:

• We anticipate low single-digit increases in comparable sales for the second half driven by higher regular-price selling, offset by lower clearance sales

• We expect our second half gross profit rate to be slightly higher than last year’s second half

- The rate in third quarter is planned higher than last year due to lower clearance sales in this year’s third quarter

- The fourth quarter rate is planned similar to last year, when clearance selling normalized

• SG&A expenses are expected to be $15 to $20 million lower in the second half

For earnings history and earnings-related data on Stein Mart (SMRT) click here.