Stein Mart’s May same-store sales up 8.2%

by Harry Sheff

Stein Mart JACKSONVILLE, Fla.—Off-price retailer Stein Mart reported May same-store sales up 8.2 percent and total sales up 3.6 percent to $107.3 million.

The strongest categories were in women’s apparel. Men’s sportswear was among the “more challenged” categories.

“We are thrilled to announce our May comparable store sales increase of 8.2 percent, which was on top of a strong 8.0 percent increase in April,” said interim CEO Jay Stein. “These results were driven by our ability to deliver great fashion, brands and pricing, through a well-executed merchandising and marketing strategy.”

Stein Mart reported full-year net income up 25.6 percent to $25 million in May. That announcement was a restatement of its finances; the retailer had neglected to file its Q3 report on time back in October 2012, prompting Nasdaq to send a non-compliance letter.

Stein Mart operates 262 stores.