Stein Mart, Inc. reported comparable-store sales fell 10.4% during February. Total sales declined 7.8% to $96.1 million from $104.3 million.
During February, special sizes (including women's and petite's) had positive comparable store sales. Ladies' career, ladies' casual and intimate apparel were better than the Company trend, although still negative. Geographically, comparable stores sales trends were negative in all regions of the country, with Northern tier stores performing somewhat better than those in the South and West.
At March 1, there were 279 stores in operation as compared to 269 at the same time last year.
Steinmart said that due to the current volatile retailing environment, management has decided to discontinue its practice of providing sales and earnings guidance for future periods.
