One of the day's biggest gainers is Stein Mart ( SMRT), which is surging by 12.8% to $10.66 after it reported fourth-quarter results that topped estimates. During the quarter, the department store swung to a profit of $2.7 million, or 6 cents a share, compared with a loss of $56.2 million, or $1.35, in the year-ago period. Excluding store closing and impairment charges of 13 cents per share, Stein Mart's profit was 19 cents, higher than the 17 cents a share analysts forecast. Stein Mart's sales fell 6% to $341.8 million, while its same-store sales declined 6%. GameStop ( GME) is also spiking on its better-than-expected earnings and optimistic guidance. During the quarter, GameStop earned $215.9 million, or $1.29 a share, a 7% decline compared with $232.3 million, or $1.39, in the year-ago period. Analysts expected the video game retailer to earn $1.28 a share. The company attributed the profit decline to weak same-store sales during the all-important holiday season, which tumbled 7.9%. Still, revenue increased to $3.52 billion from $3.49 billion in the prior year. Looking ahead, however, GameStop foresees full-year earnings in the range of $2.58 to $2.68 a share, significantly higher than Wall Street's forecast of $2.26 a share. Shares of GameStop are growing 7.7% to $21.39.
NEW YORK (TheStreet) -- There are some big retail movers Thursday afternoon, as earnings season winds down for the sector.
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