Stein Mart, Inc. (SMRT) March Comps Increased 0.9%

Stein Mart, Inc. (NASDAQ: SMRT) eported total sales of $136.3 million for the five-week period ended April 5, 2014, compared to total sales of $135.4 million for the five-week period ended April 6, 2013. Comparable store sales for the five-week period ended April 5, 2014 increased 0.9 percent from comparable store sales for the five-week period ended April 6, 2013.

Total sales of $220.8 million for the nine-week period ended April 5, 2014 compared to total sales of $222.1 million for the nine-week period ended April 6, 2013. Comparable store sales for the nine-week period ended April 5, 2014 decreased 0.2 percent from comparable store sales for the nine-week period ended April 6, 2013.

March sales were unfavorably impacted by the shift of pre-Easter selling from March to April this year and cooler than normal temperatures in many parts of the country early in the month. Because of the shift, the best measure for performance is the combined March-April period. Geographically, Florida and the Southeast had solid comparable store sales increases, while Texas, the Gulf States and the Northeast were more challenged.

The Company operated 263 stores at the end of March this year compared to 262 stores last year. One store was opened this month in Las Vegas, NV and two stores located in Hendersonville, NC and Overland Park, KS (Kansas City) were relocated to improved sites.

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