Stein Mart, Inc. Reports May 2013 Comparable Store Sales Increase of 8.2%

JACKSONVILLE, Fla., June 6, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported that total sales for the four-week period ended June 1, 2013 increased 3.6 percent and comparable store sales increased 8.2 percent.

The table below shows total sales for the period ended June 1, 2013 compared to the period ended May 26, 2012, while comparable store sales measures the period ended June 1, 2013 against the respective period ending June 2, 2012.

Percent Change
Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period 2013 2012 2013 2013 2012
May (4 weeks) $107.3 $103.6 3.6% 8.2% 3.1%
Year-to-date (17 weeks) $428.7 $413.3 3.7% 2.9% 0.4%

Linens, ladies' casual sportswear, ladies' boutique and ladies' career sportswear posted the strongest sales for the month, while ladies' special sizes, ladies' accessories, men's sportswear and dresses were more challenged. Geographically, sales increased in every state with our Southeast states performing better than the chain and our Northeast states performing slightly lower.

"We are thrilled to announce our May comparable store sales increase of 8.2 percent, which was on top of a strong 8.0 percent increase in April," said Jay Stein, Interim Chief Executive Officer. "These results were driven by our ability to deliver great fashion, brands and pricing, through a well-executed merchandising and marketing strategy."

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

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, 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.

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

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

Source:Stein Mart, Inc.