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Stein Mart, Inc. Reports August 2012 Sales

Stocks in this article: SMRT

JACKSONVILLE, Fla., Aug. 30, 2012 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales for the four-week period ended August 25, 2012 increased 5.6 percent. Total sales for the period were $79.0 million, an increase of 6.9 percent from $73.9 million in the same period in 2011.

      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period 2012 2011 2012 2012 2011
August (4 weeks) $79.0 $73.9 6.9% 5.6% -7.5%
Year-to-date (26 weeks) $658.8 $647.6 1.7% 1.1% -0.7%

Linens, ladies' career and casual sportswear and ladies' petites outperformed for the month while gifts, dresses, and men's underperformed. Geographically, sales increased in every state with California performing better than the chain and Florida lower.

"We are very pleased with our increased sales for August which was achieved with day to day regular merchandise selling and several smaller events where we attempted to replace some of the volume from last year's August 12-hour sale which we did not repeat this year," said Jay Stein, Interim Chief Executive Officer. "Our strong sales were for regular priced merchandise, including early receipts for fall, as well as clearance selling."

There were 263 stores operated at the end of August compared to 260 at the same time last year. No new stores were opened or existing stores closed during August.

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. 

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