JACKSONVILLE, Fla., July 5, 2012 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales for the five-week period ended June 30, 2012 decreased 0.5 percent. Total sales for the period were $104.7 million, an increase of 0.2 percent from $104.5 million in the same period in 2011. For the year to date, comparable store sales increased 0.2 percent and total sales increased 0.7 percent to $509.9 million.
| Percent Change | |||||
| Total Sales (in millions) | Total Sales | Comparable Store Sales | |||
| Fiscal period | 2012 | 2011 | 2012 | 2012 | 2011 |
| June (5 weeks) | $104.7 | $104.5 | 0.2% | -0.5% | -1.5% |
| Quarter to date (9 weeks) | $206.5 | $203.0 | 1.7% | 1.2% | -0.5% |
| Year to date (22 weeks) | $509.9 | $506.6 | 0.7% | 0.2% | 0.7% |
Linens, ladies career sportswear, and men's furnishings and accessories posted the strongest sales for June. Men's sportswear, ladies' casual sportswear and dresses were weaker. Geographically, June sales were strongest in California and the Midwest, while Florida and the Southeast were weaker.
"The weather distractions we endured during June in Florida and many of our other markets challenged our business," said Jay Stein, Interim Chief Executive Officer. "We are never satisfied with simply flat sales but given these disruptions we are not uncomfortable with our results."
The Company operated 263 stores at the end of June compared to 260 at the same time last year. No new stores were opened, relocated or closed during the month.
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