Stein Mart Comps Climb 2.5% in May

Stein Mart, Inc. total sales for the month of May decreased 0.6% to $ 118.9 million compared to $ 119.6 million last year. Comparable store sales for the fiscal period ended June 2, 2007 increased 2.5%.

As a reminder, the 53rd week in fiscal 2006 created a timing shift in the 4-5-4 calendar for fiscal 2007, creating a one-week difference between Stein Mart's fiscal reporting periods and comparable store sales reporting periods. The table below shows total sales for the four week period ending June 2, 2007 as compared to the four week period ending May 27, 2006, while comparable store sales measures the four weeks ending June 2, 2007 against the four week year-ago period ending June 3, 2006.

                              Total Sales (in millions)     Percent Change
                                                          Total    Comparable
                               2007        2006           Sales    Store Sales
    May (4 weeks)            $ 118.9       $ 119.6       (0.6)%       2.5%
    Year to date (17 weeks)  $ 495.0       $ 484.5        2.2%       (1.0)%

During May, the best performances were from men's dress clothing, social occasion/dresses, and ladies' sportswear. Intimate apparel and special sizes continue to post proportionately larger gains since being expanded in the third quarter last year. Geographically, all four regions were positive with the Eastern seaboard through the Ohio Valley showing the strongest trends.

“As anticipated, May comparable store sales were somewhat positive, helped by a well-received Memorial Day promotion and driven mostly by value,” noted Michael D. Fisher, president and chief executive officer of Stein Mart, Inc. “We continue to expect to end the second quarter with flat to slightly positive comparable store sales as we work to clear seasonal commodity merchandise.”

On June 2, 2007, there were 270 Stein Mart locations, compared to 262 stores at the same time last year.