Stein Mart (SMRT) Jan. Comps Rose 6.6%; Q4 Sales Outpace
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Stein Mart (NASDAQ: SMRT) reported sales for the four weeks of January.
| Percent Change | ||||
| Total Sales (in millions) | Total Sales | Comp Sales | ||
| Fiscal period | 2014 | 2013 | 2014 | 2014 |
| January | $69.7 | $64.4 | 8.3% | 6.6% |
| Fourth Quarter | $387.1 | $360.8 | 7.3% | 5.6% |
| Year-to-date | $1,317.8 | $1,263.6 | 4.3% | 3.3% |
*** The Street was looking for Q4 revs pf $385.7 million.
Geographically, the Midwest, Southeast and Gulf States had the strongest sales in January, while the West, Northeast and Florida had comparable store sales increases, but performed lower than the chain. For the fourth quarter, ladies' apparel and home had the strongest sales, while accessories and men's performed lower than the chain. The Company operated 270 stores at the end of January this year compared to 264 stores last year.
"Our fourth quarter 5.6 percent comparable store sales increase capped off a great second-half performance," said Jay Stein, Chief Executive Officer. "Sales continued to build throughout the quarter, particularly as we did not have a repeat of last year's severe weather events."
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