Bad weather doesn't rain on Stein Mart's Feb. sales

JACKSONVILLE, Fla. — Stein Mart reported that its total sales for the month of February were$85.2 million,an increase of 5.6% over total sales of $80.7 millionfor the four-week period ended Feb. 25, 2012. Comparable-storesales for the month increased 0.6%.

Sales for the month were strongest in the linens, ladies' casual sportswearand men's sportswear categories, while ladies' boutique, ladies' specialsizes, dresses and ladies' accessories were more challenged.

Geographically, February sales were strongest in Florida and the West,while several other areas, including the Mid-Atlantic, Midwest andNortheast, were weaker due to seasonably cold or severe weather.

"I am pleased with our February sales performance, given theunfavorable impact of weather on certain regions and the change in our12-hour event," said Jay Stein, interim CEO. "Whilesales were down early in the month due to our replacing the February12-hour event with a much smaller promotion, they were good overall. Aspreviously reported, fall inventory levels were planned up at year-endto better drive early first quarter selling."

The company operated 263 stores at the end of February this yearcompared with 262 stores last year.