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Stein Mart marks ninth consecutive quarter of positive sales


Stein Mart is marking its ninth consecutive quarter of positive sales. The company reported total sales of $75.3 million for July, a 0.9% increase from $74.6 in the prior year.

The company has generated $298.1 million in total sales for the second quarter so far, a 2.5% increase from $290.9 in the year-ago period. Comparable-store sales have increased 1.3%.

Geographically, California had the strongest sales in July, while the Northeast and Midwest faced some challenges. For the second quarter so far, home and ladies' apparel have posted the strongest sales, while men's and accessories have performed lower than the chain. The company operated 265 stores at the end of July this year compared to 262 stores last year.

"Our 1.3% comparable store sales increase for the second quarter marks our ninth consecutive quarter of positive sales," CEO Jay Stein said. "July sales trended higher in the second half of the month driven by early fall receipts. We continue to have a positive outlook for 2014 as the underlying fundamentals of our business and growth strategies remain in place."

The company will report full second-quarter results Thursday, August 21.

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