Stein Mart, Inc. reported a 12.4% decline in May comps as net sales decreased 8.8% to $108.4 million from $118.9 million last year. For the year-to-date period, comparable store sales decreased 10.1% on a 7.0% decrease in net sales to $460.5 million from $495.0 million last year.
During May, comparable stores sales of men's furnishings, ladies' dresses and ladies' accessories were better than the company trend, while gifts, linens and ladies' career were below company trend. Geographically, sales trends were better in Texas and the mid-South.
At May 31, 2008, there were 284 stores in operation as compared to 270 at the same time last year.
