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Stein Mart's Nov same store sales results disappointing
03 Dec '05
2 min read
Fashion merchandiser Stein Mart Inc announced total sales and comparable store sales for the fiscal period(s) ended November 26, 2005:
November (4 weeks) $135.4 $140.3 (3.6%) (4.1%)
Year to date (43 weeks) $1,189.6 $1,156.0 2.9% 1.5%
The best performing categories were ladies' career sportswear and social occasion dressing. Geographically, the best results were in South Florida and the Gulf Coast areas of Texas, Louisiana and Mississippi.
"As anticipated, November same store sales were somewhat negative, as softness earlier in the month was not overcome by some improvement around Thanksgiving," commented Michael D. Fisher, president and chief executive officer. "However, we have kept our inventory levels tightly controlled to the level of business, and we continue to believe that our attractive merchandise assortment will be compelling to customers as they begin shopping for the holidays in earnest."
The Company operated 262 stores on November 26, 2005 as compared to 261 stores at the same time last year.
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.
November (4 weeks) $135.4 $140.3 (3.6%) (4.1%)
Year to date (43 weeks) $1,189.6 $1,156.0 2.9% 1.5%
The best performing categories were ladies' career sportswear and social occasion dressing. Geographically, the best results were in South Florida and the Gulf Coast areas of Texas, Louisiana and Mississippi.
"As anticipated, November same store sales were somewhat negative, as softness earlier in the month was not overcome by some improvement around Thanksgiving," commented Michael D. Fisher, president and chief executive officer. "However, we have kept our inventory levels tightly controlled to the level of business, and we continue to believe that our attractive merchandise assortment will be compelling to customers as they begin shopping for the holidays in earnest."
The Company operated 262 stores on November 26, 2005 as compared to 261 stores at the same time last year.
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
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