Stein Mart, Inc. reported total sales for the fiscal month of November declined 9.3% to $107.8 million from $118.8 million in the year earlier month. Comparabale store sales declined 7.2% for the period ended November 28.
Ladies' casual sportswear, Boutique and costume jewelry produced positive comparisons during November, while the most difficult businesses were men's sportswear and ladies' social occasion dressing. Stores in the West continue to post the best sales performances, while those in the Southeast and along the Gulf Coat remain weakest.
“Our two key November events–the 14 hour sale and Black Friday–were much stronger than last year, but could not offset the general softness in the month,” noted David H. Stovall, Jr., president and chief executive officer of Stein Mart, Inc.
There were 267 stores in operation at November 28, 2009 as compared to 278 at the same time last year.
