Off-price retailer Stein Mart has revealed that a panel has granted its request for continued listing on the Nasdaq Stock Market while it regains compliance.
The news comes after the company received a notice of non-compliance in December because it did not file its quarterly report on time for the third quarter ending October 27.
Stein Mart must regain compliance with all applicable requirements before August 1 if it wants to continue listing on the Nasdaq Stock Market, including completion of the restatement of its previously issued financial statements and filing with the Securities and Exchange Commission (SEC) of all outstanding annual and periodic reports.
The retailer believes it will be current with its SEC reports earlier than the deadline.
For more fashion and apparel industry news, go to just-style.com