Stein Mart, Inc. announced total sales increased to $105.3 million, up 7.2% from 2004, and comparable store sales rose 6.2% for the fiscal period ended February 26, 2005.
Total Sales Percent Change Fiscal Period: Total Comparable 2005 2004 Sales Store Sales February (4 weeks) $105.3 $98.3 7.2% 6.2%
Ladies and men’s sportswear and ladies accessories were the best performing categories of merchandise. Geographically, sales were strongest in the Southeast and Mid-Atlantic states.
“We continue to be pleased with sales of spring merchandise as well as liquidation of prior season inventories,” commented Michael D. Fisher, president and chief executive officer of Stein Mart, Inc. “We expect a modest increase in March comparable stores sales (on top of last year’s 18.4 percent increase), which would keep us on track for a comparable store sales increase of three to four percent for the first quarter of 2005, resulting in earnings of $0.33-$0.35 per share for the period.”
The Company operated 261 stores on February 26, 2005 as compared to 260 stores at the same time last year.