Stein Mart, Inc. reported comparable store sales for the month decreased 6.5% for the four week period ended Oct. 30, 2010 compared to October 2009.
Total sales for October were $85.5 million, a decrease of 7.2% from $92.2 million in the same period in 2009.
Sales performance in October was impacted by changes in the promotional calendar compared to the prior year, which accelerated sales into the early months of the quarter as previously reported in the company’s August sales release. Weather, which was warmer than normal, also negatively impacted sales for October.
Total Sales (in millions) | Percent Change | ||||||||||
Total Sales | Comparable Store Sales | ||||||||||
Fiscal period | 2010 | 2009 | 2010 | 2010 | 2009 | ||||||
October (4 weeks) | $85.5 | $92.2 | -7.2% | -6.5% | -4.9% | ||||||
Third Quarter (13 weeks) | $267.8 | $270.2 | -0.9% | 0.3% | -6.2% | ||||||
Year to date (39 weeks) | $844.8 | $877.3 | -3.7% | -2.0% | -6.3% | ||||||
Ladies' Boutique clothing and career sportswear exceeded company trend for October while ladies’ special sizes, casual sportswear and home textiles experienced weaker trends. October sales were better than company trend in the Northeast, California and Florida while sales were weaker in the Gulf States, Arizona and Texas.
No new stores were opened or existing stores closed during October. There were 263 stores in operation on October 30, 2010 compared to 267 at the same time last year.
