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Speaker 1: All right, Dave, you're up. Uh Hi, my name is Dave.

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Speaker 1: Just what do you think you're doing today? We're going

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Speaker 1: for the prankdown, Wilson, Dave, Dave Hey. Mr Wilson opened

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Speaker 1: up the door to stein Mark. Well that's something well

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Speaker 1: worth doing. But a whole lot of investors were walking

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Speaker 1: out the door today. Stein Mart's a discount store chain

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Speaker 1: that began in nineteen o eight with a location in Greenville, Mississippi.

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Speaker 1: Sam Stein opened that store, and his grandson Ja Stein

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Speaker 1: expand the company into a national chain with about two

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Speaker 1: eighty locations. It's based in Jacksonville, Florida these days. Stein

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Speaker 1: Mark has been publicly traded since two ticker s m RT.

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Speaker 1: Company shares peaked in May two thousand five and plummeted

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Speaker 1: ninety six percent through December two thousand and eight. They

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Speaker 1: haven't recovered from that drop in a rally this year

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Speaker 1: was set back today after Chief Executive Dawn Robertson resigned.

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Speaker 1: Robertson lasted six months as CEO after succeeding Jay Stein.

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Speaker 1: She was also stein Mart's top merchandizing executive. President Hunt

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Speaker 1: Hawkins was named interim CEO. They're looking for a merchandizing chief.

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Speaker 1: Stein Mart also said gross profit for the current fiscal

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Speaker 1: quarter may fall about one and a half percentage points

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Speaker 1: relative to sales from the previous quarter. Companies said a

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Speaker 1: bigger mark downs and higher occupancy costs, most mostly for

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Speaker 1: new stores. For the first two months of the quarter,

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Speaker 1: sales fell four percent at locations open more than a year.

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Speaker 1: Put it all together, and stein Mart shares ended up

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Speaker 1: with their biggest loss in eighteen months. They fell sixteen

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Speaker 1: and a half percent. Ouch Day, Wilson, thank you so

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Speaker 1: very much for joining us our stock Senator Dave Wilson.

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Speaker 1: You know, we know that cheating usually doesn't get you

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Speaker 1: very far in business. Just look at Wells Fargo and

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Speaker 1: Deutsche Bank of late. But you know what, there's a

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Speaker 1: way to cheat, according to the author of a new book,

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Speaker 1: the cheat code that actually works, and it's not dishonest.

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Speaker 1: It just really helps you get ahead in business. I'm

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Speaker 1: Kathleen Is along with pim Fox. This is Bloomberg