Stein Mart October key sales figure up 1.7 percent
JACKSONVILLE, Fla. (AP) — Stein Mart, the discount retailer, said Thursday that sales at stores open at least a year rose 1.7 percent in October on higher sales for linens and some clothing.
Analysts track revenue at stores open at least a year because it weeds out the effect of new store openings and closings.
The Jacksonville, Fla.-based company said the best-selling categories last month were linens, ladies' boutique, ladies' career sportswear and men's. The weakest categories were ladies' casual sportswear, ladies' accessories, dresses and gifts.
Sales were strongest in the Midwest, Northeast and Texas and weaker in the Southeast and Florida.
Total sales for October rose 1.7 percent to $87.2 million from the same period last year.
For the third quarter, sales at stores open a year rose 3.1 percent and total sales rose 4 percent to $268.9 million.
Stein Mart Inc., which runs 262 stores in 29 states, said that for the year to date, sales at stores open a year rose 1.3 percent and total sales rose 2 percent to $848.7 million.
Shares of the company fell 15 cents, or 1.9 percent, to $7.71 in midday trading Thursday.