Stein Mart announced total sales for the four-week November period were $137.0 million, a 4.6 % decrease from the $143.6 million in sales for the same period in 2002.
Comparable store sales for November decreased 4.7 % from 2002 to 2003.
Merchandise categories with positive comparable store sales performances
during November were Boutique and Ladies' Sportswear. Geographically, sales
trends were better in Southern California, South Florida and the northern tier
of stores along the Great Lakes.
“Continued pressure from last year's prevailing coupon strategy kept
comparative sales numbers down for November, although we were pleased to see
renewed strength in our ladies' businesses during the month,” noted Michael D.
Fisher, president and chief executive officer of Stein Mart, Inc.
Total sales for the first 43 weeks of the fiscal year were $1.087 billion,
a 5.0 percent decrease from the $1.144 billion in sales for the same period in
2002. Comparable store sales decreased 6.7 percent from the same 43-week
period of 2002.
