Stein Mart Sustains Comp Gains In Q2

For the second quarter, Stein Mart, Inc. posted a sales gain of 2.5% to $298.1 million. Comparable store sales advanced 1.3%.

By product category, home and ladies’ apparel posted the strongest sales in the quarter, while men’s and accessories performed under the chain average.

In the four-week fiscal July period, Stein Mart, Inc. generated a sales increase of 0.9% to $75.3 million, while comps increased 0.8% versus July 2013.

By geographic region, California had the strongest sales in July, while the Northeast and Midwest trailed.

“Our 1.3% comparable store sales increase for the second quarter marks our ninth consecutive quarter of positive sales,” said Jay Stein, Stein Mart CEO, in discussing the financial results. “July sales trended higher in the second half of the month driven by early fall receipts. We continue to have a positive outlook for 2014 as the underlying fundamentals of our business and growth strategies remain in place.”

Stein Mart operated 265 stores at the end of July this year compared to 262 stores in last year’s month, the company reported.


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