Sportswear & intimate apparel categories drive Stein Mart sales up 7.7%

03 Mar '06
2 min read

Fashion merchandiser Stein Mart Inc announced total sales and comparable store sales for the fiscal period ended February 25, 2006.

Company's Feb sales increased 7.7 percent compare to same period last year and comparable store sales increased 8.5 percent

In February, the best performing categories were petite sportswear, social occasion, and intimate apparel.

The repositioning of the home category continues, with positive response especially in the decorative home furnishings assortment.

Geographically, the best results were along the Gulf Coast and in the West.

"Their momentum in the last half of January began to moderate in early February, with a significant drop in traffic and sales in the last three weeks of the month; however, they anticipate improving trends in March and April corresponding to the later Easter holiday, which would result in same store sales for the first quarter approximately flat to last year," commented Michael D Fisher, President and Chief Executive Officer.

"Their clearance process continues to be on track, but at a higher markdown rate due to lower than anticipated traffic."

The Company operated 261 stores at the end of the February period in both 2006 and 2005.

Full financial results for the Company's fourth quarter and fiscal year ended January 28, 2006 will be released prior to the opening of the US financial markets on Thursday, March 16, 2006.

Managementwill discuss the financial results for 2005 and expectations for 2006, including first quarter earnings guidance and details on this year's new initiatives, in a conference call at 10:30 a.m. ET that morning.

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