Fashion merchandiser Stein Mart Inc announced total sales and comparable store sales for the fiscal period(s) ended January 28, 2006, as follows (dollars in millions):
In January, the best performing categories were ladies' career sportswear, special sizes and social occasion dressing. Sales in the home division, including gifts and linens, were positive for the month. Geographically, the best results were in the Gulf Coast region, the Ohio River Valley and the mid- Atlantic.
As a result of better-than-projected sales during January, management now expects net income from fourth quarter operations to slightly exceed previous guidance of $0.36 - $0.39 per share. Full financial results for the Company's fourth quarter and fiscal year will be released prior to the opening of the financial markets on Thursday, March 16, 2006.
The Company operated 262 stores on January 28, 2006 as compared to 261 stores at the same time last year. One of the Company's stores in New Orleans that had been closed since Hurricane Katrina re-opened January 19, 2006.
Upcoming Investor Conference Presentation
Stein Mart president and chief executive officer Michael D. Fisher will deliver a presentation at the Roth Capital Conference in Dana Point, CA on Wednesday, February 22, 2006 at 2:30 p.m. PT.
The presentation will be webcast live at http://www.steinmart.com or you may access a recorded version on the Company's web site until the end of the month.
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 New York, Stein Mart's focused assortment of merchandise features moderate to designer brand-name apparel for women, men and young children, as well as accessories, gifts, linens and shoes.
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