JACKSONVILLE, Fla., Aug. 2, 2012 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales for the four-week period ended July 28, 2012 increased 2.8 percent. Total sales for the period were $69.9 million, an increase of 4.0 percent from $67.2 million in the same period in 2011.
| Percent Change | |||||
| Total Sales (in millions) | Total Sales | Comparable Store Sales | |||
| Fiscal period | 2012 | 2011 | 2012 | 2012 | 2011 |
| July (4 weeks) | $69.9 | $67.2 | 4.0% | 2.8% | -2.8% |
| Second Quarter (13 weeks) | $276.4 | $270.2 | 2.3% | 1.6% | -1.1% |
| Year-to-date (26 weeks) | $579.8 | $573.7 | 1.1% | 0.5% | 0.3% |
Home, ladies' accessories and ladies' career sportswear posted the strongest sales for July. Dresses, ladies' plus size sportswear and ladies' boutique were weaker. Geographically, July sales were strongest in the Northeast, the Midwest and Florida, and slightly weaker in California.
"Our increases in comparable store sales for July and the second quarter reflect improvements in our merchandise and promotional approach," said Jay Stein, Interim Chief Executive Officer. "We are encouraged by these sales gains which are an indication that our merchandising strategy is the right one for us."
There were 263 stores operated at the end of July compared to 260 at the same time last year. No new stores were opened or existing stores closed during July.
Second Quarter 2012 Financial Results
Financial results for the second quarter ended July 28, 2012 will be reported before the U.S. financial markets open on Thursday, August 16, 2012. Management will also 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, 2012.
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
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Additional information about Stein Mart, Inc. can be found at www.steinmart.com