Stein Mart Posts Q1 Sales Gain of 2.1 Percent
JACKSONVILLE, Fla.-Stein Mart reported first-quarter sales of $328.9 million, up 2.1 percent over the first quarter of last year.
The gain included a 2.6 percent increase in same-store sales. A company statement said this included a jump of 8.9 percent in same-store sales in April.
The statement credited home and ladies' apparel with strong performances during the quarter, which ended on May 3. Men's and accessories were more "challenged," the statement said. Among geographic regions, Texas and the Southeast reported the strongest sales, while sales were weak in the Northeast.
Stein Mart CEO Jay Stein said sales in February and March were affected by colder weather and the Easter calendar shift. "Now that warmer weather is here, our customers are responding just wonderfully to our spring merchandise," Stein said.