Stein Mart (SMRT) Comps Fell 1.4% in August

Stein Mart (NASDAQ: SMRT) reported total sales for the four-week period ended August 29, 2015 of $86.1 million, a 0.4 percent decrease over total sales of $86.5 million for the four-week period ended August 30, 2014. Comparable store sales for the four-week period ended August 29, 2015 decreased 1.4 percent from August 2014.

Total sales of $751.2 million for the thirty-week period ended August 29, 2015 increased 5.3 percent from total sales of $713.5 million for the thirty-week period ended August 30, 2014. Comparable store sales for the thirty-week period ended August 29, 2015 increased 3.3 percent from comparable store sales for the period ended August 30, 2014.

August sales were impacted by the move of Labor Day to a week later in September this year and the shifting of events, including the Labor Day event moving from August to September. Geographically, Florida had the strongest sales with positive comps, while Texas and the West performed below the chain. The Company operated 269 stores at the end of August this year compared to 265 stores last year.

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