Stein Mart layoffs, on the record
Every job cut, severance charge and restructuring Stein Mart reported in its annual reports, 2018 to 2020, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2018 | approximately 10,200 | February 3, 2018 |
| 10-K for 2019 | approximately 9,500 | February 2, 2019 |
| 10-K for 2020 | approximately 9,000 employees | As of February 1, 2020 |
Job cuts, severance and restructuring
Our summaryCompany closed six stores in 2017, incurring lease termination and severance costs.
Word for word“We closed six stores in 2017, one store in 2016, and two stores in 2015, incurring lease termination and severance costs.” 10-K for 2018
Our summaryCompany recorded executive severance expense within SG&A for fiscal 2016.
Word for word“SG&A increased $11.7 million primarily as the result of higher store selling expenses of $9.6 million due to new stores and planned payroll increases, $2.7 million higher depreciation, $1.8 million higher expense for legal settlements, $1.4 million higher share-based compensation, and $1.4 million executive severance, partially offset by $7.0 million higher credit card program income.” 10-K for 2018
Our summaryThe company closed eight stores in 2018 and six stores in 2017, incurring lease termination and severance costs.
Word for word“We closed eight stores in 2018 and six stores in 2017, incurring lease termination and severance costs.” 10-K for 2019
Our summaryThe company reduced the number of corporate and store employees after reopening its stores to cut expenses and improve profitability.
Word for word“We have reduced the number of corporate and store employees following the reopening of the stores as part of an overall effort to reduce expenses and improve profitability.” 10-K for 2020
Our summaryThe company closed four stores in 2019 and eight stores in 2018 and incurred lease termination and severance costs.
Word for word“We closed four stores in 2019 and eight stores in 2018, incurring lease termination and severance costs.” 10-K for 2020
Stein Mart has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Stein Mart’s annual reports (10-K for 2020, 10-K for 2019, 10-K for 2018) and the financial data it files with the SEC, as of 2020-06-15. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.