Stein Mart, Inc. announced total sales for the five-week June period were $114.9 million, a 1.4 percent decrease from the $116.5 million in sales for the same period in 2002. Comparable store sales for June decreased 4.9 percent from 2002 to 2003.
Merchandise categories with positive comparable store sales performances during June were Intimate Apparel and Boutique. Geographically, sales trends were better in Southern California, Florida and northern Ohio and Indiana.
The Company continues to anticipate same-store sales for the full second quarter of 03 will be in the negative, mid-single digit range, which would result in a loss for the quarter. Quarter to date, comparable store sales are down 5.7 percent. The second quarter ends on August 2, 2003 and financial results from the quarter will be announced on Thursday, August 21, 2003.
Total sales for the first 22 weeks of the fiscal year were $553.6 million, a 5.4 percent decrease from the $585.2 million in sales for the same period in 2002. Comparable store sales decreased 7.8 percent from the same 22-week period of 2002.
