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Stein Mart Comp Store sales strong in Florida, Mid-Atlantic & Southwestern US

06
Aug '05

Upscale, off-price specialty store chain Stein Mart Inc announced reports July, second quarter, and Year-To-Date '05 Sales.

Click here to see the total sales and comparable store sales for the fiscal period(s) ended July 30, 2005, as follows (dollars in millions).

Men's sportswear, ladies' casual sportswear and ladies' career led the Company in comparable store sales increases. Geographically, comparable store sales were positive in all regions, and strongest in Florida, the mid-Atlantic and Southwestern United States.

"Customers are responding favorably to their new transition and fall merchandise, and they continue to be pleased with the pace of spring/summer clearance selling," commented Michael D. Fisher, President and Chief Executive Officer of Stein Mart Inc. He said, "A more advantageous blend of sales produced better merchandise margins, and they now anticipate diluted earnings per share of approximately $0.25 for the second quarter of 2005."

The Company operated 259 stores on July 30, 2005 as compared to 257 stores at the same time last year.

Second quarter financial results
Full financial results for the Company's second quarter ending July 30, 2005 will be released prior to the opening of the financial markets on Thursday, August 18, 2005. Also on August 18, a conference call with management to discuss second quarter results will be held at 11:00 a.m. ET.

Interested parties may listen to the call via a real-time webcast on http://www.steinmart.com, or hear a recorded version on Stein Mart's website until the end of the month.

Jacksonville based 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.

Stein Mart Inc