"They are liquidating spring/summer merchandise through our dot clearance program at our planned rate, and we have had good customer response to our transition assortments," commented Michael D. Fisher, president and chief executive officer of Stein Mart Inc.
"They continue to expect comparable store sales to increase in the low, single-digit range for the quarter ending July 30, resulting in diluted earnings per share of $0.20 - $0.22 for the second quarter of 2005."
The Company operated 260 stores on July 2, 2005 as compared to 257 stores at the same time last year.
Quarter-end news release Financial results for the Company's second quarter, which ends on July 30, 2005, will be released prior to the opening of the U.S. financial markets on Thursday, August 18, 2005.
Upscale, off-price specialty store chain 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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