Stein Mart (SMRT) Reports 8% Drop in June Comps
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Stein Mart, Inc. (Nasdaq: SMRT) reports total sales for the month of June were $108.8 million, down 11.3% from the same period last year. Same store sales fell 8%.
During June, the best performing categories continued to be dresses and ladies' casual sportswear. The most difficult businesses were ladies' career sportswear and gifts. Stores in the West and in the Ohio Valley led the Company's sales performance, while stores in the Southeast and in the mid-Atlantic experienced the weakest trends.
There were 273 stores in operation at July 4, 2009 as compared to 284 at the same time last year.
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