Stein Mart Nov. Comparable Store Sales Decrease 4.8%, Total Sales Down 1.2%

(RTTNews) - Stein Mart Inc. (SMRT) reported that its comparable store sales for the four-week period ended November 28, 2015 decreased 4.8 percent from November 2014. Total sales for the four-week period ended November 28, 2015 of $126.4 million, a 1.2 percent decrease over total sales of $127.9 million for the four-week period ended November 29, 2014.

Total sales of $1.09 billion for the forty-three week period ended November 28, 2015 increased 3.2 percent from total sales of $1.06 billion for the forty-three week period ended November 29, 2014. Comparable store sales for the forty-three week period ended November 28, 2015 increased 1.1 percent from comparable store sales for the period ended November 29, 2014.

The entire November comparable sales shortfall occurred during the first two and one-half weeks of the month. Sales then improved to flat to last year for the remainder of the month and positive in early December. Geographically, the West and the Northeast had the strongest sales in November where temperatures were cooler, while Florida and Texas performed below the chain.