Stein Mart, Inc. Reports April and First Quarter Sales
May 07 2015 - 7:30AM
Stein Mart, Inc. (Nasdaq:SMRT) announced today sales for the four
weeks of April and first quarter ended May 2, 2015. First quarter
total sales increased 7.5 percent and comparable store sales
increased 4.8 percent.
|
|
|
Percent Change |
|
Total Sales (in
millions) |
Comparable Store Sales |
Fiscal period |
2015 |
2014 |
2015 |
April |
$109.1 |
$108.1 |
(1.5%) |
March/April |
$264.9 |
$244.4 |
5.6% |
First Quarter |
$353.5 |
$328.9 |
4.8% |
As expected, the shift of Easter from late April last year to
early April this year favorably impacted March sales, which had an
11.2 percent comparable stores sales increase, and impacted April
sales unfavorably. Geographically, Florida had the strongest
sales in April, while California, Texas and the Gulf States
performed lower than the chain. For the first quarter, ladies'
apparel posted the strongest sales, led by dresses and ladies'
boutique, while accessories were more challenged. The Company
operated 270 stores at the end of April this year compared to 263
stores last year.
"We are very pleased with the response our customers are having
to our spring assortment," said Jay Stein, Chief Executive Officer.
"Our first quarter 4.8 percent comparable store sales increase
continues the trend we saw at the end of last year and is a great
way to start the year."
First Quarter 2015 Financial Results
Financial results for the first quarter 2015 will be reported
prior to the opening of the U.S. financial markets on Thursday, May
21, 2015. Management will also hold a conference call at 10:00
a.m. ET that morning to discuss those results. The call may be
heard on the Company's investor relations website at
http://ir.steinmart.com. A replay of the conference call will
be available on the website through June 30, 2015.
About Stein Mart
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 Massachusetts, as well as steinmart.com, Stein
Mart's focused assortment of merchandise features current season,
moderate to better fashion apparel for women and men, as well as
accessories, shoes and home fashions. SMRT-S
Additional information about Stein
Mart, Inc. can be found at www.steinmart.com
CONTACT: For more information:
Linda L. Tasseff
Director, Investor Relations
(904) 858-2639
ltasseff@steinmart.com
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