Stein Mart, Inc. saw fiscal July net saes decline 4.6% to $80.6 million from $84.5 million last year as same-store sales slid 8.7%. For the second quarter, net sales were down 5.8% to $311.6 million from $330.7 a year earlier as comps dropped 9.7%. Year-to-date net sales decreased 6.1% to $663.8 million from $706.9 million on a 9.5% decline in comparable store sales.
During July, comparable stores sales of ladies casual sportswear, intimate apparel and special sizes were better than company trend, while gifts, linens and ladies career were below company trend. Geographically, sales were better than the company trend in Texas, the mid-south and our northern tier of stores, but sales in Florida and Arizona continued to be well below the company trend.
At August 2, 2008, there were 283 stores in operation as compared to 270 at the same time last year.
