JACKSONVILLE, Fla., Aug. 4, 2011 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales for the four-week period ended July 30, 2011 decreased 2.8 percent. Total sales for the period were $67.2 million, a decrease of 4.1 percent from $70.1 million in the same period in 2010. For the year to date, comparable store sales increased 0.3 percent and total sales decreased 0.6 percent to $573.7 million.
| Percent Change | |||||
| Total Sales (in millions) | Total Sales | Comparable Store Sales | |||
| Fiscal period | 2011 | 2010 | 2011 | 2011 | 2010 |
| July (4 weeks) | $67.2 | $70.1 | -4.1% | -2.8% | -2.6% |
| Second Quarter (13 weeks) | $270.2 | $276.0 | -2.1% | -1.1% | -2.0% |
| Year to date (26 weeks) | $573.7 | $577.0 | -0.6% | 0.3% | -3.0% |
Ladies' dresses, intimate apparel, casual and career sportswear, and men's furnishings posted positive comparable store sales for July. Geographically, July sales were strongest in California, Arizona and Texas.
The Company operated 260 stores at the end of July compared to 264 at the same time last year. No stores were opened or closed during the month.
Second Quarter 2011 Financial Results
Financial results for the second quarter ended July 30, 2011 will be reported before the U.S. financial markets open on Thursday, August 18, 2011. Management will hold a conference call at 10:00 a.m. ET that morning to discuss those results. The call may be heard on the investor relations portion of the Company's website at http://ir.steinmart.com. A replay of the call will be available on the website through August 31, 2011.
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.
SMRT-S
Additional information about Stein Mart, Inc. can be found at www.steinmart.com
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