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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.
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NRF unveils 2014 economic forecast
Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 4.1% in 2014, up from the preliminary 3.7% growth seen in 2013, according to the National Retail Federation. The association’s 2014 economic forecast calls for online sales to grow between 9% and 12%.
A number of factors contributed to NRF’s 2014 economic forecast, including: