Stein Mart, Inc. Reports November 2012 Sales and Announces Special Dividend

Stein Mart, Inc. Reports November 2012 Sales and Announces Special Dividend

JACKSONVILLE, Fla., Nov. 29, 2012 (GLOBE NEWSWIRE) -- Stein Mart, Inc.
(Nasdaq:SMRT) today reported comparable store sales for the four-week period
ended November 24, 2012 increased 7.1 percent. Total sales for the period were
$109.8 million, an increase of 7.5 percent from $102.1 million in the same
period in 2011.

Stein Mart, Inc. also announced that its Board of Directors has declared a
special dividend of $1.00 per common share. The dividend is payable on
December 24, 2012 to shareholders of record as of December 10, 2012 and is
expected to total approximately $44 million.

                                            Percent Change
                     Total Sales (in          Total      Comparable Store
                      millions)                Sales      Sales
Fiscal period         2012         2011        2012       2012      2011
November (4 weeks)    $109.8       $102.1      7.5%       7.1%      -4.6%
Year-to-date (43      $958.5       $934.3      2.6%       2.0%      -1.2%

All merchandise categories posted positive comps for the month with linens,
men's furnishings and ladies' career sportswear performing the best and
ladies' casual sportswear, ladies' accessories and dresses performing lower
than the chain.Geographically, sales increased in every state except New
Jersey, with the Gulf States and the Southeast performing better than the
chain and the West slightly lower.

"Our goal was to generate positive comp sales during the holiday selling
season and we are off to a terrific start.The results were clearly a
culmination of great merchandise, great marketing and proper execution at all
levels," said Jay Stein, Interim Chief Executive Officer."The special
dividend reflects our continued generation of strong cash flows and provides a
way to return value to our shareholders.After payment of the dividend, the
Company will continue its strong financial position that is more than adequate
to meet our capital needs for the foreseeable future."

Store Network

The Company operated 263 stores at the end of November this year and last
year.One new store was opened in Tucson, Arizona this month and no stores
were closed.

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

SAFE HARBOR STATEMENT>>>>>>>Except for historical information contained
herein, the statements in this release may be forward-looking, and are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The Company does not assume any obligation to update or
revise any forward-looking statements even if experience or future changes
make it clear that projected results expressed or implied will not be
realized.Forward-looking statements involve known and unknown risks and
uncertainties that may cause Stein Mart's actual results in future periods to
differ materially from forecasted or expected results.Those risks include,
without limitation:

  ocontinued consumer sensitivity to economic conditions
  oon-going competition from other retailers
  ochanging preferences in apparel
  othe effectiveness of advertising, marketing and promotional strategies
  oability to negotiate acceptable lease terms with current landlords
  oability to successfully implement strategies to exit under-performing
  ounanticipated weather conditions and unseasonable weather
  oadequate sources of merchandise at acceptable prices
  ochanges in merchandise prices and couponing which could impact sales and
  othe Company's ability to attract and retain qualified employees
  odisruption of the Company's distribution system
  ofailure of information technology
  oacts of terrorism and the other risks and uncertainties described in the
    Company's filings with the Securities and Exchange Commission


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

CONTACT: For more information:
         Linda L. Tasseff
         Director, Investor Relations
         (904) 858-2639

Stein Mart, Inc. Logo
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