Stein Mart December Comps Up 4.5% - Quick Facts

(RTTNews) - Stein Mart Inc. (SMRT) reported that comparable store sales for the five-week period ended January 4, 2014 increased 4.5 percent. Comparable store sales for the prior year rose to 5.9 percent.

Total Sales for the month of December declined to $175.6 million from last year's $178.3 million.

The company noted that December's total sales comparisons were unfavorably impacted by last year's 53rd week which created a timing shift in this year's calendar.

The company indicated that total sales amount was for the fiscal period ended January 4, 2014 compared to the fiscal period ended December 29, 2012. Comparable store sales percentages are based on the period ended January 4, 2014 against the shifted period ended January 5, 2013.

The company stated that Linens, dresses and ladies' boutique posted the strongest sales for the month, while jewelry and men's sportswear were more challenged. Geographically, December sales were strongest in Florida, the Southeast and Texas, while the Midwest and Northeast performed lower than the chain.

"Our strong holiday sales, which are on top of great sales increases last year, demonstrate our ability to continue to grow sales which will drive earnings," said Jay Stein, Chief Executive Officer

The company operated 264 stores at the end of December this year compared to 263 stores last year.