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Stein Mart, Inc. Reports April and First Quarter Sales

JACKSONVILLE, Fla., May 7, 2015 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) announced today sales for the four weeks of April and first quarter ended May 2, 2015. First quarter total sales increased 7.5 percent and comparable store sales increased 4.8 percent.

Percent Change
Total Sales (in millions) Comparable Store Sales
Fiscal period 2015 2014 2015
April $109.1 $108.1 (1.5%)
March/April $264.9 $244.4 5.6%
First Quarter $353.5 $328.9 4.8%


As expected, the shift of Easter from late April last year to early April this year favorably impacted March sales, which had an 11.2 percent comparable stores sales increase, and impacted April sales unfavorably. Geographically, Florida had the strongest sales in April, while California, Texas and the Gulf States performed lower than the chain. For the first quarter, ladies' apparel posted the strongest sales, led by dresses and ladies' boutique, while accessories were more challenged. The Company operated 270 stores at the end of April this year compared to 263 stores last year.

"We are very pleased with the response our customers are having to our spring assortment," said Jay Stein, Chief Executive Officer. "Our first quarter 4.8 percent comparable store sales increase continues the trend we saw at the end of last year and is a great way to start the year."

First Quarter 2015 Financial Results

Financial results for the first quarter 2015 will be reported prior to the opening of the U.S. financial markets on Thursday, May 21, 2015. 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, 2015.

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 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.