Stein Mart, Inc. Reports March 2013 Sales
JACKSONVILLE, Fla., April 11, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc.
(Nasdaq:SMRT) today reported sales and comparable store sales for the
five-week period ended April 6, 2013.
As a reminder, the extra 53^rd week in fiscal 2012 created a timing shift for
fiscal 2013, resulting in a one-week difference between our fiscal reporting
and comparable store sales reporting periods. The table below shows total
sales for the period ended April 6, 2013 compared to the period ended March
31, 2012, while comparable store sales measures the period ended April 6, 2013
against the respective period ending April 7, 2012.
Total Sales (in Total Comparable Store
millions) Sales Sales
Fiscal period 2013 2012 2013 2013 2012
March (4 weeks) $133.0 $127.5 4.3% -2.8% -0.3%
Quarter-to-date (9 $218.2 $208.1 4.8% -1.5% 0.1%
Linens, men's furnishings, gifts and ladies' career sportswear posted the
strongest sales for the month, while dresses, ladies' special sizes and men's
sportswear were more challenged.Geographically, March sales were strongest in
the West, Texas and Florida, while the Midwest, Northeast and most Eastern
states were weaker.
"March sales were adversely impacted by much colder weather compared to last
year and, of course, the lost selling day due to the earlier Easter which
represents nearly two percentage points of the comp sales decrease.Our
comparable store sales were positive until the last week of the month when the
anticipated lower post-Easter selling occurred," said Jay Stein, Interim Chief
Executive Officer."This year, more than ever, it will be important to combine
March and April sales results to get a true picture of our spring selling
season due to this year's Easter calendar shift."
The Company operated 262 stores at the end of March this year compared to 264
stores 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.
Additional information about Stein Mart, Inc. can be found at
CONTACT: For more information:
Linda L. Tasseff
Director, Investor Relations
Stein Mart, Inc. Logo
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