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JACKSONVILLE, Fla., May 06, 2010 (BUSINESS WIRE) -- Stein Mart, Inc. (Nasdaq: SMRT) today reported total sales and comparable store sales for the fiscal period(s) ended May 1, 2010.
| Total Sales (in millions) | Percent Change | |||||||||
| Fiscal period | 2010 | 2009 |
Total Sales |
Comparable Store Sales |
||||||
| April (4 weeks) |
$92.9 |
$100.3 |
-7.4% |
-5.4% |
||||||
| March-April (9 weeks) |
$226.5 |
$235.5 |
-3.8% |
-1.7% |
||||||
|
First Quarter (13 weeks) |
$301.0 |
$319.6 |
-5.8% |
-3.8% |
||||||
"As anticipated, April sales were negatively impacted by the shift of Easter which accelerated pre-holiday selling into March," noted David H. Stovall, Jr., president and chief executive officer. "However, sales for the combined March-April period, while still slightly negative, represent an improvement over our recent sales trend."
For April, ladies' dresses and costume jewelry had positive comparable stores' sales, as did men's sportswear. Geographically, April sales were strongest in the Mid-Atlantic and the Midwest.
There were no new stores opened or existing stores closed during April. At month-end, there were 267 stores in operation compared to 275 at the same time last year.
First Quarter 2010 Results
Full financial results for the first quarter ended May 1, 2010 will be reported before the U.S. financial markets open on Thursday, May 20, 2010. 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 May 28, 2010.
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, gifts, linens and shoes.
Additional information about Stein Mart, Inc. can be found at www.steinmart.com
SOURCE: Stein Mart, Inc.
Stein Mart, Inc.
Susan Datz Edelman, Director, Stockholder Relations, 904-346-1506
sedelman@steinmart.com
Copyright Business Wire 2010