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Stein Mart, Inc. Reports October and Third Quarter Sales

JACKSONVILLE, Fla., Nov. 6, 2014 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported sales for the four weeks of October.

Percent Change
Total Sales (in millions) Total Sales Comp Sales
Fiscal period 2014 2013 2014 2014
October $97.7 $95.0 2.9% 1.4%
Third Quarter $303.6 $290.5 4.5% 3.1%
Year-to-date $930.6 $902.8 3.1% 2.3%

Geographically, our two largest states, Texas and Florida, had the strongest sales in October, while the Gulf States and the West performed lower than the chain. For the third quarter, ladies' apparel posted the strongest sales, while men's performed lower than the chain. The Company operated 268 stores at the end of October this year compared to 264 stores last year. During the month, one new store was opened in Albuquerque, NM, one store was relocated to an improved site in Franklin, TN and we closed our store in Daphne (Mobile), AL.

"We are pleased with our 3.1 percent comparable store sales increase for the third quarter and the positive impact that our 2014 new and relocated stores are having on sales," said Jay Stein, Chief Executive Officer. "These results are particularly satisfying considering that it was much warmer in October this year compared to last year."

Third Quarter 2014 Financial Results

Financial results for the third quarter 2014 will be reported prior to the opening of the U.S. financial markets on Thursday, November 20, 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 November 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.