QUOTE AND NEWS
Channel News Asia  Feb 25  Comment 
SMRT president and group CEO Desmond Kuek said that the plaudit "reaffirms that SMRT's enterprise risk management programme is truly world-class, and delivers superior value for our stakeholders".
Motley Fool  Feb 5  Comment 
A massive special dividend is music to shareholders' ears.
Benzinga  Feb 5  Comment 
Stein Mart, Inc. (NASDAQ: SMRT) shares rose sharply Thursday after the company said same-store sales grew 6.6 percent. Stein Mart changed hands recently near $16, up more than 12 percent. Separately on Wednesday, the Jacksonville,...
Benzinga  Feb 5  Comment 
Hospira Inc. (NYSE: HSP) surged 35.02% to $87.49. The volume of Hospira shares traded 7658% higher than normal. Pfizer Inc. (NYSE: PFE) announced its plans to acquire Hospira for $90 per share. Stein Mart Inc. (NASDAQ: SMRT) shares climbed...
Benzinga  Feb 5  Comment 
Glu Mobile, Inc.(NASDAQ: GLUU) shares rose 22.14% to $4.69 in pre-market trading after the company beat fourth-quarter expectations and said it will develop a new game featuring the pop singer Katy Perry. Stein Mart Inc. (NASDAQ: SMRT) gained...
The Straits Times  Jan 30  Comment 
January 31, 2015 1:15 AM SMRT CORP
The Straits Times  Jan 29  Comment 
January 30, 2015 1:50 AM LISTED transport operator SMRT Corp posted a creditable third quarter ended Dec 31 last year, with net earnings rising by 58.4 per cent to $22.6 million.
The Straits Times  Nov 27  Comment 
November 28, 2014 1:07 AM TRANSPORT operator SMRT Corp has found a new chief financial officer.




 
TOP CONTRIBUTORS

Stein Mart (NYSE:SMRT) is a national retailer of fashion merchandise for men and women, accessories, shoes and home furnishings. Currently operating 264 stores in 29 states, Stein Mart’s mission is to provide high quality fashion apparel at prices comparable to off-price retail chains.

Business Summary

Stein Marts success stems from their strong desire of providing the highest quality fashion apparel with brand and designer names, private label and exclusive merchandise. As of January 29, 2011 there were 264 stores in operation in 29 states and the District of Columbia. These store locations are primarily located in the Southeast and Texas, and in power shopping centers that are close to upscale residential areas. Walking in to a Stein Mart store you are presented with lifestyle groupings of apparel and accessories for men and women based on career, special occasion wear, modern clothing, casual or trends at discount prices. Customers can design their shopping experience around their preferences for the merchandise which helps to promote multiple purchases.

Unlike other discount retailers Stein Mart utilizes sales through their website, www.steinmart.com, to enhance the on-line shopping experience. They offer a limited selection of merchandise compared to store fronts mainly focusing on their pricier selections of career and boutique clothing as well as home furnishings.

Competitors

Ross Stores Inc. (NYSE:ROST): Ross stores specifically targets the value-conscious women and men ranging in age from 18 to 54. Ross attracts customers primarily from middle income households by offering 20-60% off regular priced items. [1]

Khol’s Corporation (NYSE:KSS): Kohl’s is a family-oriented department store located nationwide that sells moderately priced apparel, footwear and accessories for women, men and children. The stores available inventory is attributable to regional preferences but appeals to all customers interested in classic, modern classic and contemporary styles.[2]

TJX Companies, Inc (NYSE:TJX): In the United States TJX Companies, Inc is composed of T.J. Maxx, Marshalls and Homegoods. Their 2,000+ stores offer 20-60% reduce priced apparel for men, women, juniors and children, as well as home fashions to the United States. [3] The stores primarily target the middle to upper middle income customer. Canada has Winners, Marshalls and Homesense while in Europe there is T.K. Maxx and Homesense. [3]

Image:Competitors_stores_and_sales_per_square_foot.jpg‎


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Industry Analysis

Porter 5 Forces

Threat of new entrants: Medium – Stein Mart has several barriers to entry that will reduce the threat of new companies entering the industry. Stein Mart and its competitors are mature companies in a mature industry which prevents any new company from growth. The use of the Stein Mart Platinum MasterCard® and Preferred Customer Card programs help to establish incentives for the price conscious consumer to continue shopping for more savings at Stein Mart. The stable inventory of brand names that are popular at Stein Mart will keep the loyal consumers continually purchasing at a store that offers them at discounted prices, like Stein Mart.

Power of suppliers: High – Stein Mart’s suppliers are what keep this retail company in business, without any inventory the company’s margins would greatly suffer. In particular, DSW, Inc. supplies Stein Mart with its entire shoe inventory and therefore holds a very strong control over their operations in providing brand name shoes to consumers.

Power of buyers: Medium – Stein Mart is a company that provides specifically for consumers that have restricted discretionary income and are incredibly price sensitive. For these consumers only concerned about price it is relatively easy for them to pick a competitor over Stein Mart. Some apparel options like special occasion wear or business attire is purchased only periodically and for Stein Mart this is a relatively large percentage of their product offering so the power of buyers in this market is very high.

Availability of substitutes: High – The possibility of a consumer selecting a competitor’s product that has similar pricing, style, color, size and availability is very high in this industry. Fashion fluctuates but every retail company is trying to capitalize off a certain trend or style, therefore many closely related products are offered as substitutes from the high-end and expensive style and sold in stores like Stein Mart and their competitors.

Competitive rivalry: High – In this retail industry the competitive nature arises because the companies are quite similar. There is little to no differentiation between products sometimes, only on the price tag and who manufactured the product because many designs of product mimic one particular fashion.


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