Stein Mart (SMRT) Comps Rose 11.2% in March

Stein Mart (NASDAQ: SMRT) reported total sales for the five-week period ended April 4, 2015 of $155.8 million, a 14.2 percent increase over total sales of $136.3 million for the five-week period ended April 5, 2014. Comparable store sales for the five-week period ended April 4, 2015 increased 11.2 percent from April 5, 2014.

Total sales of $244.4 million for the nine-week period ended April 4, 2015 increased 10.6 percent from total sales of $220.8 million for the nine-week period ended April 5, 2014. Comparable store sales for the nine-week period ended April 4, 2015 increased 7.9 percent from comparable store sales for the period ended April 5, 2014.

March sales were partly impacted by earlier pre-Easter selling. April sales will also be impacted by this shift in peak spring selling weeks. Geographically, most regions had high single or double digit comparable store sales increases, while the Northeast experienced a mid-single digit increase.

The Company operated 270 stores at the end of March this year compared to 263 stores last year. One store was opened this month in Cupertino, CA (San Francisco Bay Area).

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