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Stein Mart, Inc. Reports February 2013 Sales

JACKSONVILLE, Fla., March 7, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported sales and comparable store sales for the four-week period ended March 2, 2013. As a reminder, the extra 53 rd week in fiscal 2012 created a timing shift for fiscal 2013, resulting in a one-week difference between our fiscal reporting and comparable store sales reporting periods.

The table below shows total sales for the period ended March 2, 2013 compared to the period ended February 25, 2012, while comparable store sales measures the period ended March 2, 2013 against the respective period ending March 3, 2012.

      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period  2013 2012 2013 2013 2012
February (4 weeks) $85.2 $80.7 5.6% 0.6% 0.7%

Total sales for the four-week period ended March 2, 2013 were $85.2 million, an increase of 5.6 percent over total sales of $80.7 million for the four-week period ended February 25, 2012. Comparable store sales for the four-week period ended March 2, 2013 increased 0.6 percent over the four-week period ended March 3, 2012.

Linens, ladies' casual sportswear and men's sportswear posted the strongest sales for the month, while ladies' boutique, ladies' special sizes, dresses and ladies' accessories were more challenged. Geographically, February sales were strongest in Florida and the West, while several other areas, including the Mid-Atlantic, Midwest and Northeast, were weaker due to seasonably cold or severe weather.

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