Stein Mart ‘pleased’ with Q2 results
JACKSONVILLE, Fla. — Strong sales in linens, dresses and intimate apparel buoyed Stein Mart’s total sales for the second quarter ended August 3, which increased 3.8% to $290.9 million from $280.4 million for the same quarter last year.
The company posted a comparable-store sales increase of 6.4% for the quarter.
Ladies' special sizes, men's sportswear, jewelry and ladies' casual sportswear were more challenged. Geographically, July sales were strongest in Florida, the Southeast and Virginia, while the West performed slightly lower than the chain.
"I am pleased with our sales performance in July which wrapped up a great second quarter where our comparable store sales increased 6.4%," said Jay Stein, CEO. "Our customers responded well to our merchandise assortment during the first half of the year and we are looking forward to introducing her to our great fall assortment."
The company operated 262 stores at the end of July this year compared to 263 stores last year. It offers a focused assortment of merchandise that includes current season, moderate to better fashion apparel for women and men as well as accessories, shoes and home fashions.