Exhibit 99.1

Stein Mart, Inc. Reports Fourth Quarter and Fiscal 2016 Results

JACKSONVILLE, Fla. – Stein Mart, Inc. (NASDAQ: SMRT) today announced financial results for the fourth quarter and fiscal year ended January 28, 2017.

Highlights

Net loss for the fourth quarter was $4.9 million or $0.11 per diluted share compared to net income of $6.3 million or $0.13 per diluted share in 2015. For the year, net income was $0.4 million or $0.01 per diluted share compared to $23.7 million or $0.51 per diluted share in 2015. Adjusted earnings before interest, income taxes, depreciation and amortization (“EBITDA”) for the year was $44.6 million compared to $76.7 million in 2015 (see Note 1).

“Our fourth quarter results were disappointing as we continued to work through higher than desired inventory levels and the impact of changes to marketing, merchandising and promotions implemented during the third quarter. We were aggressive with our promotions and markdowns to clear fall merchandise which severely impacted the quarter’s gross profit rate and earnings,” said Hunt Hawkins, Chief Executive Officer.

“With our new executive leadership now in place, 2017 will be a year of transition as we refine and organize around our strategies. Lessons learned from last year have us keenly focused on changes we need to make to our business to significantly improve management of our inventories and increase sales productivity. Everything we do will be aimed at our loyal customer and support our brand and value messaging in this continuing difficult retail environment.”

Sales

Total sales for the fourth quarter of 2016 decreased 2.2 percent to $385.5 million, while comparable store sales decreased 5.5 percent. Total sales were $1.36 billion for 2016 and 2015, while comparable store sales decreased 3.8 percent.

Gross Profit

Gross profit for the fourth quarter of 2016 was $87.9 million or 22.8 percent of sales compared to $105.8 million or 26.8 percent of sales in 2015. Gross profit for the year 2016 was $359.0 million or 26.4 percent of sales compared to $385.3 million or 28.3 percent of sales in 2015. The lower gross profit rate for both the quarter and the year is primarily due to higher markdowns. Additionally, higher occupancy costs, mostly from new stores, negatively leveraged on lower comparable store sales.

Selling, General and Administrative Expenses

Selling, general and administrative (SG&A) expenses for the fourth quarter of 2016 were $96.1 million compared

to $95.1 million in 2015. For the year, SG&A expenses were $355.4 million in 2016 compared to $343.7 million in 2015. Excluding the impact of new stores, SG&A expenses for the year decreased primarily as a result of higher credit card program income somewhat offset by higher expense for legal settlements and executive severance.

Balance Sheet

Inventories were $291 million at the end of 2016 compared to $294 million last year. Average inventories per store were down 5.9 percent from last year.

Borrowings under our credit facilities were $182 million and unused availability was $72 million at the end of the year. At the end of 2015, borrowings were $190 million and unused availability was $74 million.

Store Activity

We had 290 stores at the end of 2016 compared to 278 at the end of 2015. We opened thirteen new stores and closed one store in 2016.

2017 Outlook

We expect the following factors to influence our business in 2017:

Filing of Form 10-K

Reported results are preliminary and not final until the filing of our Form 10-K for the fiscal year ended January 28, 2017 with the Securities and Exchange Commission (“SEC”), and therefore remain subject to adjustment.

Conference Call

A conference call for investment analysts to discuss the Company’s fourth quarter and fiscal 2016 results will be held at 10 a.m. EDT on March 8, 2017. The call may be heard on the investor relations portion of the Company’s website at http://ir.steinmart.com. A replay of the conference call will be available on the website through April 30, 2017.

Investor Presentation

Stein Mart’s fourth quarter and fiscal 2016 investor presentation has been posted to the investor relations portion of the Company’s website at http://ir.steinmart.com.

About Stein Mart

Stein Mart, Inc. (NASDAQ: SMRT) is a national retailer offering designer and name-brand fashion, accessories and home decor at everyday discount prices. Stein Mart provides real value that customers will love every day both in stores and online. The Company currently operates 287 stores across 31 states. Stein Mart is adding new modern brands to its stores to offer discriminating shoppers even more of the fashion and savings they want. For more information, please visit www.steinmart.com.

Cautionary Statement Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this release may be forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company does not assume any obligation to update or revise any forward-looking statements even if experience or future changes make it clear that projected results expressed or implied will not be realized. Forward-looking statements involve known and unknown risks and uncertainties that may cause Stein Mart’s actual results in future periods to differ materially from forecasted or expected results. Those risks include, without limitation: consumer sensitivity to economic conditions, competition in the retail industry, changes in consumer preferences and fashion trends, ability to implement our strategic plans to sustain profitable growth, effectiveness of advertising and marketing, capital availability and debt levels, ability to negotiate acceptable lease terms with current and potential landlords, ability to successfully implement strategies to exit under-performing stores, extreme and/or unseasonable weather conditions, adequate sources of merchandise at acceptable prices, dependence on certain key personnel and ability to attract and retain qualified employees, impacts of seasonality, increases in the cost of compensation and employee benefits, disruption of the Company’s distribution process, dependence on imported merchandise, information technology failures, data security breaches, single supplier for shoe department, single provider for ecommerce website, acts of terrorism, ability to adapt to new regulatory compliance and disclosure obligations, material weaknesses in internal control over financial reporting and other risks and uncertainties described in the Company’s filings with the SEC.

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Stein Mart, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)

Stein Mart, Inc.

Consolidated Balance Sheets

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Stein Mart, Inc.

Consolidated Statements of Cash Flows

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NOTE TO PRESS RELEASE

Note 1 – EBITDA:

As used in this release, EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. EBITDA is not a measure of financial performance under generally accepted accounting principles (GAAP). However, we present EBITDA in this release because we consider it to be an important supplemental measure of our performance and because it is frequently used by analysts, investors and others to evaluate the performance of companies. EBITDA is not calculated in the same manner by all companies. EBITDA should be used as a supplement to results of operations and cash flows as reported under GAAP and should not be considered to be a more meaningful measure than, or an alternative to, measures of operating performance as determined in accordance with GAAP.

Adjustments to EBITDA include non-cash items (impairment charges), significant non-recurring unusual items (executive severance, legal settlements) and new stores investments (pre-opening costs).

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

Unaudited (in thousands)