It's no secret that Stein Mart hasn't had the best of times in recent years; sales have been sliding downhill for a while as competition for discount goods become ever fiercer. As a basic rule, the lower Walmart and stores like it go with the prices for their own goods, the less room there is for a company like Stein Mart to turn a profit.
There were times when it looked like Stein Mart's days might be numbered, but the appointment of new business strategists at the beginning of 2018 seems to have saved them, followed up by the acquisition of $50m worth of loans in March to ease the short-term financial pressure. Digital sales are increasing dramatically as the company shifts its focus to internet-based trade. Stein Mart still posted a loss of $23.4m overall, but that's dramatically lower than was anticipated. The firm should survive.