Stein Mart posts 12% drop in Oct. sales, comps

JACKSONVILLE, Fla. Stein Mart reported total sales of $100 million for the four-week October period ended Nov. 1, a 12% drop from $113.7 million in 2007. Comparable-store sales decreased 12.5%.

For the third quarter, net sales dropped 10.4% to $298.8 million, compared to $333.3 million last year. Comparable-store sales declined 12.6%.

During October, ladies’ casual wear and dresses produced the best comparable-store sales performance. The most challenging businesses in October were gifts, linens and ladies’ career sportswear.