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Stein Mart changes SG&A expenses to include $1.4m for settlements

Staff writer ▼ | June 9, 2016
Stein Mart announced that it is revising its preliminary financial results for the first quarter ended April 30, 2016 previously released on May 19, 2016.
Stein Mart
Stein Mart   The revision increases selling, general and administrative expenses
The revision, which increases selling, general and administrative (SG&A) expenses by $675,000, was required to record additional accruals for actual and anticipated legal settlements.

Subsequent to the previous release but prior to the filing of the Form 10-Q for the first quarter ended April 30, 2016, new facts developed on these existing matters which resulted in the adjustment.

As a result of this revision, SG&A expenses for the first quarter of 2016 now include $1.4 million of expense for actual and anticipated legal settlements.


 

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