Stein Mart Inc.

$SMRT - Nasdaq - Retail
0 LAST
0 CHANGE $
0 CHANGE %
loader
ON 0
WATCHLISTS

COMMUNIQUÉ DETAILS

posts/post

Press Release $SMRT Stein Mart Inc.

Up 0 0 Down
Stein Mart, Inc. Reports December 2012 Sales

JACKSONVILLE, Fla., Jan. 3, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales increased 5.9 percent for the five-week period ended December 29, 2012. Comparable store sales for the quarter to date November/December holiday selling period were up 6.3 percent. Total sales for December were $176.5 million, an increase of 6.4 percent from the same period in 2012. For the year to date, comparable store sales increased 2.6 percent and total sales increased 3.2 percent to $1.135 billion.

      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period 2012 2011 2012 2012 2011
December (5 weeks) $176.5 $166.0 6.4% 5.9% 0.0%
Quarter to date (9 weeks) $286.3 $268.1 6.8% 6.3% -1.8%
Year to date (48 weeks) $1,135.0 $1,100.3 3.2% 2.6% -1.0%

Linens, ladies' boutique and ladies' career sportswear posted the strongest sales for the month, while ladies' casual sportswear, ladies' accessories and dresses were more challenged. Geographically, sales increased in every state, with California and Florida performing best.

"I am extremely pleased with our December sales which followed a very strong November.  This represents our sixth consecutive month of positive comp sales. It has been more than seven years since we have experienced comp increases like this," said Jay Stein, Interim Chief Executive Officer. "As we look forward to next year, we believe we are well positioned to continue our positive trend."

The Company operated 263 stores at the end of December this year and last year.

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. 

The Stein Mart, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9827

SMRT-S

Additional information about Stein Mart, Inc. can be found at www.steinmart.com

CONTACT: Linda L. Tasseff
         Director, Investor Relations
         (904) 858-2639
         ltasseff@steinmart.com

Source: Stein Mart, Inc.
SHARE THIS: Twitter StockTwits LinkedIn Google Plus SHORT URL: http://bdvt.co/msP

SIGN IN TO BOARDVOTE

FORGOT PASSWORD?