Stein Mart, Inc. Reports April Comparable Store Sales Increase of 8.9%

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JACKSONVILLE, Fla., May 8, 2014 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales for the four-week period ended May 3, 2014 increased 8.9 percent.

Percent Change
Total Sales (in millions) Comparable Store Sales
Fiscal period 2014 2013 2014
April $108.1 $99.3 8.9%
March/April $244.4 $234.7 4.3%
First Quarter $328.9 $321.4 2.6%

The combined March-April period removes the impact of the Easter calendar shift. Geographically, Texas and the Southeast had the strongest sales in April, while the Northeast was more challenged. For the first quarter, ladies' apparel and home posted the strongest sales, while men's and accessories were more challenged.

"I am delighted with our strong April sales," said Jay Stein, Chief Executive Officer. "As you know, February and March sales were impacted by colder weather and the Easter calendar shift. Now that warmer weather is here, our customers are responding just wonderfully to our spring merchandise."

The Company operated 263 stores at the end of April this year compared to 262 stores last year.

First Quarter 2014 Financial Results

Financial results for the first quarter 2014 will be reported prior to the opening of the U.S. financial markets on Thursday, May 22, 2014. 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 Company's investor relations website at http://ir.steinmart.com. A replay of the conference call will be available on the website through June 30, 2014.

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 over 260 locations from California to Massachusetts, as well as steinmart.com, 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.

SMRT-S

Additional information about Stein Mart, Inc. can be found at www.steinmart.com

CONTACT: For more information: Linda L. Tasseff Director, Investor Relations (904) 858-2639 ltasseff@steinmart.com

Source:Stein Mart, Inc.