Stein Mart (SMRT) Comps Up 4.5% in December

Stein Mart, Inc. (Nasdaq: SMRT) reported that comparable store sales for the five-week period ended January 4, 2014 increased 4.5 percent.

For the table below, total sales amounts and percentages are for the fiscal period ended January 4, 2014 compared to the fiscal period ended December 29, 2012. Comparable store sales percentages are based on the period ended January 4, 2014 against the shifted period ended January 5, 2013.

  	  	  	Percent Change

                	Total Sales (in millions) Comparable Store Sales Total Sales*

Fiscal period             	2013 	2012 	2013 	2012 	2013

December                 	$175.6 	$178.3 	4.5% 	5.9% 	-1.6%

Quarter-to-date (Nov/Dec)  	$295.5 	$289.7 	3.9% 	6.3% 	2.0%

Year-to-date 	$1,198.3 	$1,153.5 	4.0% 	2.6% 	3.9%

*December's total sales comparisons are unfavorably impacted by last year's 53rd week which created a timing shift in this year's calendar. The 4.5 percent comparable store sales increase for December is the best indicator of our sales performance for the holiday season.

Linens, dresses and ladies' boutique posted the strongest sales for the month, while jewelry and men's sportswear were more challenged. Geographically, December sales were strongest in Florida, the Southeast and Texas, while the Midwest and Northeast performed lower than the chain.

"We are delighted with our December comparable store sales increase which was achieved despite adverse weather in much of the country," said Jay Stein, Chief Executive Officer. "Our strong holiday sales, which are on top of great sales increases last year, demonstrate our ability to continue to grow sales which will drive earnings."

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