Stein Mart, Inc. reported comparable store sales increased 5.9 percent for the five-week period ended Dec. 29, 2012. Comparable store sales for the quarter to date November/December holiday selling period were up 6.3 percent.
Total sales for December were $176.5 million, an increase of 6.4 percent from the same period in 2012. For the year-to-date, comparable store sales increased 2.6 percent and total sales increased 3.2 percent to $1.14 billion.
| Percent Change | |||||
| Total Sales (in millions) | Total Sales | Comparable Store Sales | |||
| Fiscal period | 2012 | 2011 | 2012 | 2012 | 2011 |
| December (5 weeks) | $176.5 | $166.0 | 6.4% | 5.9% | 0.0% |
| Quarter to date (9 weeks) | $286.3 | $268.1 | 6.8% | 6.3% | -1.8% |
| Year to date (48 weeks) | $1,135.0 | $1,100.3 | 3.2% | 2.6% | -1.0% |
Linens, ladies boutique and ladies career sportswear posted the strongest sales for the month, while ladies casual sportswear, ladies accessories and dresses were more challenged. Geographically, sales increased in every state, with California and Florida performing best.
“I am extremely pleased with our December sales which followed a very strong November. This represents our sixth consecutive month of positive comp sales. It has been more than seven years since we have experienced comp increases like this,” said Jay Stein, Interim CEO. “As we look forward to next year, we believe we are well positioned to continue our positive trend.”
The company operated 263 stores at the end of December this year and last year.
