Stein Mart February Comps Up 7.5%

Stein Mart announced net sales and comparable store sales for the
fiscal period ended February 28, 2004, as follows (dollars in millions):

                                           Total Sales     Percent Change
                                                          Total  Comparable
    Fiscal Period:                         2004   2003    Sales  Store Sales

    February (4 weeks)                    $98.3  $91.0     8.0%      7.6%

Comparable store sales performances were strong across all apparel
divisions during February, and sales trends were positive in every region of
the country.

“We are pleased with our 7.6% comparable store increase in February,”
commented Michael D. Fisher, president and chief executive officer of Stein
Mart, Inc. “The strong sell-through in our new spring assortments and good
momentum in our end-of-season clearance produced better-than-expected sales
despite a reduction in marketing/sales promotion activities during the month.”

Given the improving retail climate and the Company's growing validation of
its new marketing strategies, management has updated its expectations for the
first quarter ending May 1, 2004. Although sales will continue to be pressured
by the absence of full price coupons, the advantages of an earlier Easter
holiday, a return to TV advertising and renewed vigor in apparel sales should
significantly benefit comparable store sales in March. Management now expects
that comparable store sales for the first quarter will increase between four
and five percent, which would produce net income in the range of $0.10-$0.12
per share.