Stein Mart (SMRT) Comps Flat in December, Sales Down Slightly
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Stein Mart, Inc. (Nasdaq: SMRT) today reported comparable store sales for the five-week period ended December 31, 2011 were flat to last year. Total sales for the December five-week period were $166.0 million, a decrease of 0.2 percent from $166.3 million in the same period last year.
In December, ladies' casual sportswear, accessories and intimate apparel exceeded Company trend, while ladies' boutique and career sportswear, as well as home textiles, experienced weaker trends. Geographically, December sales were better than Company trend in California, Texas, the Midwest and the Northeast while sales were weaker in Florida and the Gulf States.
During December, the Company closed one store located in Chicago, Illinois. There were 262 stores in operation at the end of December compared to 264 at the same time last year.
In December, ladies' casual sportswear, accessories and intimate apparel exceeded Company trend, while ladies' boutique and career sportswear, as well as home textiles, experienced weaker trends. Geographically, December sales were better than Company trend in California, Texas, the Midwest and the Northeast while sales were weaker in Florida and the Gulf States.
During December, the Company closed one store located in Chicago, Illinois. There were 262 stores in operation at the end of December compared to 264 at the same time last year.
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