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Stein Mart, Inc. Reports July Sales

Stein Mart, Inc. Logo

JACKSONVILLE, Fla., Aug. 7, 2014 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported sales for the four weeks of July.

Percent Change
Total Sales (in millions) Total Sales Comp Sales
Fiscal period 2014 2013 2014 2014
July $75.3 $74.6 0.9% 0.8%
Second Quarter $298.1 $290.9 2.5% 1.3%
Year-to-date $627.0 $612.3 2.4% 2.0%

Geographically, California had the strongest sales in July, while the Northeast and Midwest were more challenged. For the second quarter, home and ladies' apparel posted the strongest sales, while men's and accessories performed lower than the chain. The Company operated 265 stores at the end of July this year compared to 262 stores last year.

"Our 1.3 percent comparable store sales increase for the second quarter marks our ninth consecutive quarter of positive sales," said Jay Stein, Chief Executive Officer. "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."

Second Quarter 2014 Financial Results

Financial results for the second quarter 2014 will be reported prior to the opening of the U.S. financial markets on Thursday, August 21, 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 September 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.