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JACKSONVILLE, Fla., June 1, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Stein Mart, Inc. (Nasdaq: SMRT) today announced total sales and comparable store sales for the fiscal period ended May 27, 2006, as follows (dollars in millions):
Total Sales Percent Change
Total Comparable
Fiscal Period: 2006 2005 Sales Store Sales
May (4 weeks) $119.6 $117.9 1.5% 1.0%
Year to date (17 weeks) $484.5 $498.5 (2.8)% (3.7)%
In May, the best performances came from ladies' sportswear; dresses and social occasion; and special size sportswear. The fashion areas of the new home assortment (furniture, seasonal, and top-of-bed) posted positive comparable sales as well. Geographically, sales were strongest in California and the Southwest, and along the Gulf coast.
One Stein Mart store closed in May, bringing the store count to 262 as compared to 260 stores at the end of May 2005.
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 New York, Stein Mart's focused assortment of merchandise features moderate to designer fashion apparel for women and men, as well as accessories, gifts, linens and shoes.
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:
* changing preferences in apparel
* changes in consumer spending due to current events and/or general
economic conditions
* availability of new store sites at acceptable lease terms
* unanticipated weather conditions and unseasonable weather
* the effectiveness of advertising, marketing and promotional strategies
* on-going competition from other retailers
* adequate sources of merchandise at acceptable prices
* the Company's ability to attract and retain qualified employees to
support planned growth,
* ability to successfully implement strategies to exit or improve
under-performing stores
* disruption of the Company's distribution system
* acts of terrorism
and the other risks and uncertainties described in the Company's filings with the Securities and Exchange Commission.
SMRT-S
Additional information about Stein Mart, Inc. can be found at http://www.steinmart.com .
SOURCE Stein Mart, Inc.
Susan Datz Edelman, Director, Stockholder Relations of Stein Mart, Inc., +1-904-346-1506, sedelman@steinmart.com
http://www.prnewswire.com
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