Stein Mart Q3 Sales Up 4.5 Percent
JACKSONVILLE, Fla.-Stein Mart (NASDAQ: SMRT) reported third-quarter sales of $303.6 million, up 4.5 percent from last year's third quarter, according to a preliminary statement on the retailer's results.
Same-store sales in the quarter were up 3.1 percent. Jay Stein, Stein Mart's CEO, said, "We are pleased with our 3.1 percent comparable-store sales increase for the third quarter and the positive impact that our 2014 new and relocated stores are having on sales. These results are particularly satisfying considering that it was much warmer in October this year compared to last year."
In product categories, women's apparel posted the strongest sales. Men's apparel underperformed the chain as a whole, the statement said.
Stein Mart will report its full third-quarter results on Nov. 20.