Stein Mart Q3 Sales Up 4.5 Percent

Stein Mart-logo2014JACKSONVILLE, 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.

David GillDavid Gill | Senior Editor

David Gill covers home textiles, small electrics housewares, personal-care products, cleaning products, mattresses, consumer electronics and major appliances. He also reports on retailers and writes about the business and financial side of both vendors and retailers. He has more than 30 years of experience in business journalism, and has worked for other publications and websites that cover consumer products from both the manufacturer and retailer sides. His outside interests include sports (he is a big fan of the New York teams and of British soccer), cooking, movies and theater. He occasionally enjoys a good cigar as well.


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