Stein Mart (SMRT) Comps Rose 1.4%

Stein Mart (NASDAQ: SMRT) reported sales for the four weeks of October.

**** Consensus estimates were looking for Q3 revenue of $301.4 million.

Geographically, our two largest states, Texas and Florida, had the strongest sales in October, while the Gulf States and the West performed lower than the chain. For the third quarter, ladies' apparel posted the strongest sales, while men's performed lower than the chain. The Company operated 268 stores at the end of October this year compared to 264 stores last year. During the month, one new store was opened in Albuquerque, NM, one store was relocated to an improved site in Franklin, TN and we closed our store in Daphne (Mobile), AL.

"We are pleased with our 3.1 percent comparable store sales increase for the third quarter and the positive impact that our 2014 new and relocated stores are having on sales," said Jay Stein, Chief Executive Officer. "These results are particularly satisfying considering that it was much warmer in October this year compared to last year."

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