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Stein Mart’s January sales hit by severe weather
Despite severe weather that caused a 0.7% decrease in January sales, Stein Mart looks like it will report its seventh consecutive quarter of comparable-store sales increases when it closes the fourth quarter.
January sales were fueled by strong sales in linens, ladies' boutique and gifts, while jewelry, ladies' sportswear and men's performed lower than the chain. Geographically, January sales were strongest in Florida and the West, while most other areas experienced comparable sales declines due to winter storms combined with record cold weather.