Stein Mart, Inc. reported that total sales for the month ended November 26 declined 3.6% to $135.4 million from $140.3 million in November 2004. Comparable store sales decreased 4.1% for the november period.
Total sales for the 43-week year-to-date period rose 2.9% to $1.19 billion, while comps rose 1.5% for the YTD period.
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.
