Stein Mart reports overall decrease in sales

JACKSONVILLE, Fla. Stein Mart reported decreased total sales and comparable-store sales for the fiscal period ended Oct. 31.

The company announced that net sales were $92.2 million in the month of October, compared with $100 million for the four weeks ended Nov. 1, a 7.8% decrease. Comparable-store sales decreased 4.9% for the month.

For third quarter ended Oct. 31, net sales were $270.2 million compared with $298.8 million for third quarter ended Nov. 1 the year prior, a 9.6% decrease. Comparable-store sales decreased 6.2% for the quarter.

On a year-to-date basis, for the nine months ended Oct. 31, net sales totaled $877.3 million compared with $962.6 million for the nine months ended Nov. 1 the year prior, a 8.9% decrease. Comparable-store sales decreased 6.3% for the nine-month period.