Stein Mart, Inc. Reports Sales for January 2010, 4Q '09 and FY'09
JACKSONVILLE, Fla., Feb. 4 /PRNewswire-FirstCall/ -- Stein Mart, Inc. (Nasdaq: SMRT) today reported total sales and comparable store sales for the fiscal period(s) ended January 30, 2010.
Total Sales (in millions) Percent Change --------------- -------------- Comparable Fiscal period 2009 2008 Total Sales Store Sales ------------- ---- ---- ----------- ----------- January (4 weeks) $63.8 $67.1 (-4.9)% (-2.5)% 4th quarter (13 weeks) $341.8 $363.9 (-6.1)% (-3.8)% Fiscal Year (52 weeks) $1,219.1 $1,326.5 (-8.1)% (-5.6)%
For January, ladies' casual sportswear, ladies' Boutique, intimate apparel and the home area posted positive comparisons, while the most difficult business continued to be ladies' career fashion. Once again, the Company's stores in the Mid-West had the strongest sales performances during the month, while those along the Gulf Coast were weaker.
"Consistent with this year's inventory management strategy, we had significantly less clearance merchandise this January compared to January last year," noted David H. Stovall, Jr., president and chief executive officer of Stein Mart. "While the lack of sale merchandise was challenging in a traditionally clearance month, it did allow us to emphasize full-price selling."
There were 267 stores in operation at January 30, 2010 as compared to 276 at the same time last year.
Fourth Quarter and Fiscal 2009 Financial Results
Full financial results for the fourth quarter and fiscal year ended January 30, 2010 will be reported before the U.S. financial markets open on Thursday, March 18, 2010. Management will also hold a conference call at 10:00 a.m. ET that morning to discuss those results. The call may be heard on the investor relations portion of the Company's website at http://ir.steinmart.com. A replay of the call will be available on the website through March 26, 2010.
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.
Additional information about Stein Mart, Inc. can be found at www.steinmart.com
SMRT-S
SOURCE Stein Mart, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article