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LONDON, UK / ACCESSWIRE / September 14, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for StoneMor Partners L.P. (NYSE: STON), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=STON. The Company announced on September 12, 2017, the latest data on its initiatives to restructure its sales team. In October 2016, the Company had put in place a plan to upgrade the quality of its sales force, given less than stellar sales number for Q3 2016 ending on September 30, 2016. Since then the Company has been presenting a monthly update on the changes in the sales team and their performance. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Sales Team Performance for August 2017

The data shared by the Company pertains to the information on the performance of the sales team for the month of August 2017 ending on August 31, 2017. The total number of sales personnel in the team for the month was 779 people. The figure represents an addition of 9 more people compared to the total sales personnel of 770 people as on July 31, 2017. The total team strength is 57 people more than the team strength recorded for the same month in FY16.

The data shared by the Company also reveals that the number of sales persons making a sale in the month of August 2017 was 672 people. This was marginally lower compared to the number of people making a sale in the same month in FY16 which was 707 people. However, on the bright side, the number of salespeople who made a sale in August 2017 increased by 12 people from the 660 people who made a sale in July 2017.

Backdrop

At the end of the nine-month period for Q3 2016 ending on September 30, 2016, the Company had a sales team of approximately 700 people which included support staff as well as sales managers who could close a sale. Out of these 100 people were the star performers and recorded average monthly sales of approximately $87,300. The average monthly sales of the Company for the first nine months of FY16 ending on September 30, 2016, were $81,300. However, the Company noticed that the number of people from the sales team who actually made a sale in the Q3 2016 was down by 10%.

The Company embarked on a mission to improve its sales performance and took some measures by realigning the entire sales team. The company decided to hire new sales persons, where required, to boost the core sales function and eliminated non-sales generating positions that had duplicative roles. In parallel, the Company also launched a series of initiatives which included the expansion of training classes, engaging a national recruiting firm for best hires, increase the in-house recruiting efforts, and hiring of a national Vice President of sales.

In October 2016, the Company created a new position of National Vice-President of sales and appointed Dina S. Kelly to this position. She was given the responsibility of setting strategic priorities for the sales team and supporting localized hiring and training. She would supervise the expansion of the sales team as envisioned by the Company and ensure suitable hires. The new hires are expected to be productive salespeople who would bring in minimum average monthly revenue of $20,000 to $25,000 per person.

About StoneMor Partners L.P.

Trevose, Pennsylvania based StoneMor Partners is one of the largest Companies in the death care industry and provides a broad range of products and services through the ownership, development, and operation of cemeteries and funeral homes in multiple states. The products and services cover both the before death and at death requirements and include burial lots, lawn, and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. The Company has a total of 316 cemeteries and 98 funeral homes in 27 states in the US and Puerto Rico.

Last Close Stock Review

At the close of trading session on Wednesday, September 13, 2017, StoneMor Partners' stock price marginally declined 0.32% to end the day at $6.24. A total volume of 345.40 thousand shares were exchanged during the session, which was above the 3-month average volume of 310.28 thousand shares. The Company's shares have a dividend yield of 21.15%. At Wednesday's closing price, the stock's net capitalization stands at $223.95 million.

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SOURCE: Pro-Trader Daily