Stein Mart, Inc. Reports December and Year-to-Date 2009 Sales

Jan 07, 2010, 07:30 ET from Stein Mart, Inc.

JACKSONVILLE, Fla., Jan. 7 /PRNewswire-FirstCall/ -- Stein Mart, Inc. (Nasdaq: SMRT) today reported total sales and comparable store sales for the fiscal period(s) ended January 2, 2010.


                                   Total Sales (in
                                      millions)             Percent Change
                                   ---------------          --------------
                                                          Total   Comparable
    Fiscal period                   2009       2008     Sales  Store Sales
    -------------                   ----       ----     -----  -----------
    December (5 weeks)            $170.2     $178.0    (-4.4)%      (-2.0)%
    Quarter-to-date (9 weeks)     $278.0     $296.8    (-6.3)%      (-4.1)%
    Year-to-date (48 weeks)     $1,155.3   $1,259.4    (-8.3)%      (-5.8)%

Ladies' casual sportswear, ladies' accessories, and the home area posted positive comparisons during December, while the most difficult business was ladies' career fashion. The Company's stores in the Mid-West had the strongest sales performances during the month, while those along the Gulf Coast and in the Mid-Atlantic were weaker, particularly where severe winter weather occurred.

"Although December started slowly, we were pleased with the acceleration of business as we approached Christmas, even with the adverse weather in certain markets the weekend before the holiday," noted David H. Stovall, Jr., president and chief executive officer of Stein Mart, Inc.

There were 267 stores in operation at January 2, 2010 as compared to 278 at the same time last year.

About Stein Mart

Stein Mart stores offer the fashion merchandise, service and presentation of a better department or specialty store, at prices up to 60 percent off department and specialty store original prices, every day. Currently with locations from California to Massachusetts, Stein Mart's focused assortment of merchandise features current season, moderate to better fashion apparel for women and men, as well as accessories, gifts, linens and shoes.

SMRT-S

Additional information about Stein Mart, Inc. can be found at www.steinmart.com

SOURCE Stein Mart, Inc.



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