October strong for Stein Mart, with e-commerce now underway
Retail Editor 4 -- Home Textiles Today, November 7, 2013
Jacksonville, Fla. - Driven by steady strength in linens as well as segments of ladies' apparel, Stein Mart kept up the momentum in October.
Total sales for the four-week period ended Nov. 2 increased 6.9% to $95.0 million, and comparable store sales were up 5.4% compared to a 1.7% gain a year ago.
For the third quarter, total sales increased 6.1% to $290.5 million, and comps grew 4.8% from 3.1% last year.
Year-to-date results included a 4.5% sales increase to $902.8 million and a comp gain of 4.0% compared to 1.3% in the prior year.
The company noted that October sales also benefited from Stein Mart's first full month of e-commerce.
"Our strong sales continued into October, driven by upgraded designer and national brands, great fashion-forward merchandise and value pricing," said Jay Stein, ceo. "I can assure you that we are working hard to maintain our momentum through the fourth quarter, despite the shortened holiday selling season and highly promotional environment we see around us."
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