Stein Mart Comps Rise In April, Q1 - Quick Facts

(RTTNews) - Apparel retailer Stein Mart Inc. (SMRT) reported Thursday that its comparable store sales for the month of April increased 8.9 percent. Total sales increased to $108.1 million from last year's $99.3 million.

For the combined March-April period, comparable store sales grew 4.3 percent and total sales increased to $244.4 million from $234.7 million last year. The company noted that the combined March-April period removes the impact of the Easter calendar shift.

For the first quarter, comparable sales increased 2.6 percent, and total sales improved to $328.9 million from $321.4 million a year ago.

Geographically, Texas and the Southeast had the strongest sales in April, while the Northeast was more challenged. For the first quarter, ladies' apparel and home posted the strongest sales, while men's and accessories were more challenged.

Jay Stein, Chief Executive Officer, said, "As you know, February and March sales were impacted by colder weather and the Easter calendar shift. Now that warmer weather is here, our customers are responding just wonderfully to our spring merchandise."