Login
|
Sales Gaining, Stein Mart Moves Toward Better Margins Tuesday February 12th, 2013 - 9:45AM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
 Stein Mart, Inc. has reported that total sales for the 53-week period ended February 2 were $1.21 billion, an increase of 4.6% versus the 52-week period ended January 28, 2012. Comparable store sales for the adjusted 52-week period ended January 26, 2013 increased 2.7% year over year. For the 14-week period ended February 2, total sales reached $365.2 million, an increase of 11.3% compared with the 13-week period ended January 28, 2012. Comparable store sales for the adjusted 13-week period ended January 26 increased 6% versus the year-earlier period. Total sales for the five-week period ended February 2 were $78.9 million, an increase of 31.3% versus the four-week period ended January 28, 2012. Total sales for the 53rd week were $15.8 million. Comps for the four-week period ended January 26 advanced 4.6% compared with the four-week period ended January 28, 2012. "I am pleased with our sales performance in January as well as in fiscal 2012 and look forward to continuing this trend in 2013," said Jay Stein, Stein Mart Interim CEO. "As a reminder, we are eliminating our February 12-hour event, replacing it with a much smaller one-day event that has less advertising expense and higher margins. For fiscal 2013, we are planning a total of seven 12-hour events down from eight in 2012 and nine in 2011." Stein Mart operated 263 stores at the end of January. Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials |
Target Q1 Earnings Surprise Despite Soft Sales »
Best Buy Posts Q1 Loss But Results Aren't As Bad As Expected
Home Depot Q1 Beats Weather, Wall Street
Nordstom Racks Up Sales But Still Comes Up Short In Q1
Kohl's Roughed Up In Q1 But Earnings Beat Street
Lifetime Brands, Bombay Co. Ink Licensing Deal
Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.
