Stein Mart, Inc. Reports January and Fourth Quarter Sales
February 04 2016 - 7:30AM
Year-To-Date Total Sales Increased 3.2%
and Comparable Store Sales Increased
1.0% Fourth Quarter Total Sales Increased
1.9% and Comparable Store Sales Decreased 1.1%
Stein Mart, Inc. (NASDAQ:SMRT) announced today sales for the four
weeks of January and fourth quarter ended January 30, 2016.
|
Total Sales (in millions) |
2015 Percent Change |
|
Fiscal period |
|
2015 |
|
|
2014 |
|
Total Sales |
Comp Sales |
|
January |
$ |
69.5 |
|
$ |
69.6 |
|
|
(0.1 |
)% |
|
(2.2 |
)% |
|
Fourth Quarter |
$ |
394.2 |
|
$ |
387.0 |
|
|
1.9 |
% |
|
(1.1 |
)% |
|
Year-to-date |
$ |
1,360.0 |
|
$ |
1,317.7 |
|
|
3.2 |
% |
|
1.0 |
% |
|
Geographically, Texas and Florida had the strongest sales in
January. For the fourth quarter, home and ladies’ apparel had the
strongest sales and accessories sales, particularly cold weather
items, were weaker. The Company operated 278 stores at the end of
January this year compared to 270 stores last year.
“January sales were flat through the middle of the third week of
the month, but then dropped for several days due to a winter storm
that impacted the East and Mid-Atlantic areas,” said Jay Stein,
Chief Executive Officer. “We are glad to have fall, with its
unseasonable weather, behind us and are looking forward to
showcasing our new spring merchandise to our customers.”
Discontinuing Monthly Sales ReportingAs previously announced,
beginning in 2016 we will no longer report monthly sales. Quarterly
sales will be reported in our quarterly earnings release.
Fourth Quarter 2015 Financial ResultsFinancial results for the
fourth quarter 2015 will be reported prior to the opening of the
U.S. financial markets on Thursday, March 10, 2016.
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 call will be available on the website through March
31, 2016.
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. With 278 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. For more information, please visit
www.steinmart.com.
SMRT-S
Additional information about Stein Mart, Inc. can
be found at www.steinmart.com
For more information:
Linda L. Tasseff
Director, Investor Relations
(904) 858-2639
ltasseff@steinmart.com
Stein Mart (NASDAQ:SMRT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Stein Mart (NASDAQ:SMRT)
Historical Stock Chart
From Apr 2023 to Apr 2024