Stein Mart announced total sales in April increased 8.1% to $121.7 million compared to $112.6 million last year. Comparable store sales for the month increased 6.2%.
Total Sales Percent Change
Fiscal Period: Total Comparable
2005 2004 Sales Store Sales
April (4 weeks) $121.7 $112.6 8.1% 6.2%
First quarter/year to
date (13 weeks) $380.7 $364.6 4.4% 3.2%
Ladies' career sportswear and men's sportswear led the Company in sales, followed by ladies' accessories. Geographically, sales were positive in all regions, and strongest in southern Florida, the Southwest and along the Atlantic seaboard.
“Our spring merchandise assortment continues to draw an enthusiastic response from customers,” commented Michael D. Fisher, president and chief executive officer of Stein Mart, Inc. “Because of the strength of full-priced selling, net income for the quarter will be better than originally expected, with earnings now anticipated to be $0.36-$.0.37 per share.”
The Company operated 258 stores on April 30, 2005 as compared to 258 stores at the same time last year.
