The company originally disclosed the loan in a Form 8-K filed with the Securities and Exchange Commission on June 23.Stein Mart Inc. is the latest retailer to warn that the coronavirus pandemic could spell the end of its business. Voluntarily Files Chapter 11 BankruptcyStein Mart, Inc. Stein Mart’s 281 stores across Florida and 29 other states have been shut down since March 18 as a result of the COVID-19 pandemic, including its six Jacksonville stores.As it explores additional sources of financing, Stein Mart Inc. has secured millions of dollars in stimulus aid. Stein Mart Inc. (NASDAQ:SMRT) changes shares on Wednesday trading session, with a change of 24.17% or $0.07 shares. The American restaurant serves burgers, hot dogs, chicken, snacks, sides and desserts, including Sonic Blasts. And now in Cumberland, Adams, Perry and York counties, retail will be at the top of the list on Friday. Omni sales, defined as all online sales regardless of fulfillment channel, increased 7% over last year’s fourth quarter. "Stein Mart and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida, Jacksonville Division. Or, put in a broader context, Amazon accounted for 5.2% of the $3.632 trillion U.S. consumers spent on retail goods last year and 24.7% of total retail sales growth. Should you invest in Stein Mart (NasdaqCM:SMRT)?

It said on March 31 it would be extending the closing of its stores and cutting staff while it deals with the impact of COVID-19.Off-price retailer Stein Mart will be reopening its store at 11 a.m. in Hampden Township on Friday as Cumberland County enters the state’s “yellow phase.”. The off-price chain issued a going-concern warning in its annual report filed with the Securities and Exchange Commission, though it has struggled since at least 2018, with factors in the past year predicting financial turmoil ahead. It pulled within 0.3% of its record, which was set in February when the coronavirus seemed like only a far-away worry for Wall Street. 1 in the Internet Retailer 2019 Top 1000, accounted for roughly 36.8% of U.S. online retail sales, and 55.4% of ecommerce gains in the United States last year, according to Internet Retailer estimates. Stein Mart will continue to operate and pay its workers as a debtor-in-possession through its bankruptcy. Net sales for the fourth quarter of 2019 ended February 1 were $336.6 million compared to $340.8 million for the fourth quarter of 2018. The retailer expects the move will result in about 15% of its online orders being fulfilled through in-store pickup.Apparel retailer Stein Mart and software developer Social Annex Inc. will pay up to $4,220 per person to settle class action claims stemming from a data breach that potentially compromised more than 100,000 payment cards, according to a proposed settlement filed in the District of Delaware. Copyright © 2020 MarketWatch, Inc. All rights reserved. Stein Mart's liquidators — a team of Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial's Great American Group and SB360 Capital Partners — announced the retailer is kicking off going-out-of-business sales at all of its 279 locations. Press Release reported on 06/30/20 that Stein Mart, Inc. Reports First Quarter 2020 Results and Provides Update on COVID-19 Response.McKinney’s newest Sonic location has officially opened.

To add more color to this target, the company’s high over the last year is $0.95 and the low is $0.23.