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Stein Mart, Inc. Reports August 2013 Comparable Store Sales Increase Of 3.8%

Stocks in this article: SMRT

JACKSONVILLE, Fla., Sept. 5, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported that total sales for the four-week period ended August 31, 2013 increased 3.7 percent and comparable store sales increased 3.8 percent.

The table below shows total sales for the period ended August 31, 2013 compared to the period ended August 25, 2012, while comparable store sales measures the period ended August 31, 2013 against the respective period ending September 1, 2012.

      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period  2013 2012 2013 2013 2012
August (4 weeks) $83.3 $80.3 3.7% 3.8% 5.6%
Year-to-date (30 weeks) $695.6 $670.4 3.8% 3.6% 1.1%

Linens, ladies' boutique, gifts and dresses posted the strongest sales for the month, while ladies' casual sportswear, ladies' special sizes, men's sportswear and jewelry were more challenged. Geographically, August sales were strongest in Florida and the Southeast, while the Midwest and California performed lower than the chain.

The Company operated 260 stores at the end of August this year compared to 263 stores last year. We closed two stores this month, in Gainesville and Tequesta, FL.

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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