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Stein Mart, Inc. Reports April 2013 Comparable Store Sales Increase Of 8%

Stocks in this article: SMRT

JACKSONVILLE, Fla., May 8, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq: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.

      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period  2013 2012 2013 2013 2012
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."

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