Stein Mart, Inc. announced total sales for the month of March fell 6.5% and comparable store sales fell 7.3%.


                                  Total Sales             Percent Change
                                                        Total    Comparable
    Fiscal Period                2006     2005          Sales   Store Sales
    March (5 weeks)             $143.7   $153.6         (6.5)%     (7.3)%
    Quarter to date (9 weeks)   $240.9   $258.9         (7.0)%     (7.8)%

In March, the best performing categories were men's sportswear and golf apparel, and ladies' casual sportswear. Geographically, sales were better in the Gulf coast and south Florida, but most regions of the country were negative.

A new store in Aiken, South Carolina opened during March, bringing the month-end store count to 262 as compared to 260 stores at the end of March 2005.

“March sales were well below our expectations, and we continued to experience a lack of momentum against the Easter comparative period from 2005,” commented Michael D. Fisher, president and chief executive officer. “Our casual apparel businesses are performing satisfactorily, but the career apparel and other, Easter-sensitive businesses have yet to improve. In the home area, we are experiencing good results in home decor as we continue to deliver new products and evolve this business.”

Although business is anticipated to improve as Easter approaches, management now anticipates that comparable store sales for April could be approximately flat to last year. Based on that assumption, and combined with the below-plan sales in February and March, first quarter comparable store sales would decrease in the mid-single digit range, resulting in earnings for the first quarter of $0.14 – $0.16 per share.