Stein Mart, Inc. Reports Comparable Store Sales Increase Of 6.4% For The Second Quarter And 3.7% For July

JACKSONVILLE, Fla., Aug. 8, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported that total sales for the second quarter ended August 3, 2013 increased 3.8 percent and comparable store sales for the quarter increased 6.4 percent. For the four-week period ended August 3, 2013 total sales increased 5.8 percent and comparable store sales increased 3.7 percent.

The table below shows total sales for the period ended August 3, 2013 compared to the period ended July 28, 2012, while comparable store sales measures the period ended August 3, 2013 against the respective period ending August 4, 2012.
      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period  2013 2012 2013 2013 2012
July (4 weeks) $74.6 $70.5 5.8% 3.7% 2.8%
Second quarter (13 weeks) $290.9 $280.4 3.8% 6.4% 1.6%
Year-to-date (26 weeks) $612.3 $590.1 3.8% 3.6% 0.5%

Linens, dresses and intimate apparel posted the strongest sales for the month, while ladies' special sizes, men's sportswear, jewelry and ladies' casual sportswear were more challenged. Geographically, July sales were strongest in Florida, the Southeast and Virginia, while the West performed slightly lower than the chain.

"I am pleased with our sales performance in July which wrapped up a great second quarter where our comparable store sales increased 6.4 percent," said Jay Stein, Chief Executive Officer. "Our customers responded well to our merchandise assortment during the first half of the year and we are looking forward to introducing her to our great fall assortment."               

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