Stein Mart (SMRT) Reports Holiday Comps Decline 3.3%

Stein Mart, Inc. (NASDAQ: SMRT) today reported that its comparable stores sales for the nine-week period ended January 5, 2019 decreased 3.3 percent on a shifted basis, which compares to the nine-week period ended January 6, 2018. Results reflect lower store traffic partially offset by higher average unit retail and digital sales growth of 20 percent.

“Holiday sales were below our expectations, with traffic impacted by changes we made to our holiday marketing strategy,” said Hunt Hawkins, Chief Executive Officer. “Notwithstanding our holiday sales, fiscal 2018 operating results will be significantly better than last year.”

ICR ConferenceStein Mart will be presenting at the 2019 ICR Conference being held at the Grande Lakes Hotel and Resort in Orlando, FL on Monday, January 14, 2019 at 3:30 p.m. EST. The audio portion of the presentation will be webcast live and available for 90 days through the Investor Relations website at http://ir.steinmart.com.

Fourth Quarter Earnings AnnouncementStein Mart plans to release its fourth quarter and fiscal 2018 financial results after the U.S. financial markets close on Wednesday, March 13, 2019 and will also host a conference call to discuss results and operations on the same day. Details for the conference call will be announced at a later time.

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