Stein Mart (SMRT) Comps Up 3.8% in August
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Stein Mart, Inc. (Nasdaq: SMRT) reported that total sales for the four-week period ended August 31, 2013 increased 3.7 percent and comparable store sales increased 3.8 percent.
Linens, ladies' boutique, gifts and dresses posted the strongest sales for the month, while ladies' casual sportswear, ladies' special sizes, men's sportswear and jewelry were more challenged. Geographically, August sales were strongest in Florida and the Southeast, while the Midwest and California performed lower than the chain.
The Company operated 260 stores at the end of August this year compared to 263 stores last year. We closed two stores this month, in Gainesville and Tequesta, FL.
Linens, ladies' boutique, gifts and dresses posted the strongest sales for the month, while ladies' casual sportswear, ladies' special sizes, men's sportswear and jewelry were more challenged. Geographically, August sales were strongest in Florida and the Southeast, while the Midwest and California performed lower than the chain.
The Company operated 260 stores at the end of August this year compared to 263 stores last year. We closed two stores this month, in Gainesville and Tequesta, FL.
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