Stein Mart, Inc. Reports April 2013 Comparable Store Sales Increase of 8%
JACKSONVILLE, Fla., May 8, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (SMRT) today reported that total sales for the four-week period ended May 4, 2013 increased 1.6 percent and comparable store sales increased 8.0 percent.
The table below shows total sales for the period ended May 4, 2013 compared to the period ended April 28, 2012, while comparable store sales measures the period ended May 4, 2013 against the respective period ending May 5, 2012. Beginning with this release, our reported total sales include leased shoe department commissions.
|Total Sales (in millions)||Total Sales||Comparable Store Sales|
|April (4 weeks)||$99.2||$97.7||1.6%||8.0%||-1.6%|
|March-April (9 weeks)||$234.7||$227.7||3.1%||1.5%||-0.8%|
|Quarter-to-date (13 weeks)||$321.4||$309.7||3.8%||1.2%||-0.4%|
Linens, ladies' career sportswear and ladies' casual sportswear posted the strongest sales for the month, while dresses, ladies' accessories and men's sportswear were more challenged. Geographically, sales increased in every state except for Texas which was impacted by inclement weather. Our Southeast and Mid-Atlantic states performed the best.
"I am delighted with the strong increase in our April comp store sales," said Jay Stein, Chief Executive Officer. "As you know, our February and March sales were impacted by colder weather and the Easter calendar shift. Now that we are seeing warmer weather, our customers are responding well to our spring merchandise and we are truly satisfied with what this has done for our sales."
The Company operated 262 stores at the end of April this year compared to 263 stores last year.
About Stein Mart
Stein Mart stores offer the fashion merchandise, service and presentation of a better department or specialty store, at prices competitive with off-price retail chains. Currently with locations from California to Massachusetts, Stein Mart's focused assortment of merchandise features current season, moderate to better fashion apparel for women and men, as well as accessories, shoes and home fashions.
Additional information about Stein Mart, Inc. can be found at www.steinmart.com
CONTACT: For more information: Linda L. Tasseff Director, Investor Relations (904) 858-2639 email@example.com
Source: Stein Mart, Inc. 2013 GlobeNewswire, Inc.