Stein Mart, Inc. total sales for the fiscal month ended Apr. 2, 2009 were $135.3 million, a 2.4% decrease from total sales in March 2008 of $138.6 million. Comparable store sales for the month were down 1.4%. For the quarter ended Apr. 2, 2009, total sales were $219.4 million, a 6.6% decrease from $234.8 million last year. Comparable store sales for the quarter were down 5.8%.
During March, the best performing categories were dresses, ladies' casual sportswear and Boutique. The most difficult businesses were ladies' career sportswear and gifts. Sales trends were positive in the Mid-South, and weakest in the Southeast.
“We were pleased with our March results, which were helped by our new advertising campaign, the move of the 12-hour sale from April into March, and an additional sales day compared to last year,” said David H. Stovall, Jr., president and CEO of Stein Mart, Inc. “However, it will be important to consider both March and April together to get a full picture of spring selling trends due to the calendar changes associated with the Easter shift.”
One new store was opened and one location was closed during March. At Apr. 2, 2009, there were 276 stores in operation as compared to 281 at the same time last year.
Total Sales (in millions) Percent Change
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Total Comparable
Fiscal period 2009 2008 Sales Store Sales
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March (5 weeks) $135.3 $138.6 (2.4)% (1.4)%
Quarter to date (9 weeks) $219.4 $234.8 (6.6)% (5.8)%
