Second Quarter Highlights:
- Comparable store sales up 6.4 percent over last year, total sales up 3.8 percent.
- Diluted earnings per share of $0.08 compared to $0.05 ($0.02 as adjusted) last year.
U.S. stock futures are higher on Wednesday.
Several U.S. apparel retailers are reporting sales increases for the month of June, including L Brands, Stein and Zumiez.
Several U.S. apparel retailers are reporting sales increases for the month of June.
Shareholders of Stein Mart, Inc. looking to boost their income beyond the stock's 1.9% annualized dividend yield can sell the March covered call at the $17.50 strike and collect the premium based on the 45 cents bid, which annualizes to an additional 29.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 31.9% annualized rate in the scenario where the stock is not called away.