Stein Mart, Inc. reported comparable store sales for the five-week period ended Jan. 1, 2011 decreased 1.9%. Total sales for the December five-week period were $166.3 million, a decrease of 2.3% from $170.2 million in the same period in 2009.
Sales performance in December was negatively impacted by adverse weather in the Midwest, Northeast and parts of the Southeast
Percent Change | ||||||||||||||||||||||
Total Sales (in millions) | Total Sales | Comparable Store Sales | ||||||||||||||||||||
Fiscal period | 2010 | 2009 | 2010 | 2010 | 2009 | |||||||||||||||||
December (5 weeks) | $166.3 | $170.2 | -2.3% | -1.9% | -2.0% | |||||||||||||||||
Quarter-to-date (9 weeks) | $273.9 | $278.0 | -1.5% | -1.1% | -4.1% | |||||||||||||||||
Year to date (48 weeks) | $1,118.7 | $1,155.3 | -3.2% | -1.8% | -5.8% | |||||||||||||||||
In December, ladies’ career sportswear, accessories and home textiles exceeded Company trend, while ladies’ special sizes, men’s sportswear and ladies’ casual sportswear experienced weaker trends. Geographically, December sales were better than company trend in Florida and California, while sales were weaker in the Midwest and Gulf States.
During December, the Company closed one store located in Austin, Texas. There were 264 stores in operation at the end of December compared to 267 at the same time last year.
