Kitron Q2 Revenue Beats Estimates as Defense Demand Lifts Growth 
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO 
Paramount-Warner Bros. Discovery Merger Faces Lawsuit From 12 States 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
Goldman AM Sees Strong Buyout Opportunities in Japan, South Korea and Australia 
Levi Strauss Raises 2026 Outlook After Q2 Earnings Beat, Shares Drop Despite Strong Results 
SoftBank Corp Partners With Sierra to Expand AI Customer Support Across Japan 
Deutsche Bank Fined A$2 Million by ASIC Over OTC Derivatives Reporting Errors 
Mastercard Explores Sale of Majority Stake in UK Payments Firm Vocalink: Report 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
TSMC Q2 Revenue Surges 36% as AI Chip Demand Powers Growth Ahead of Earnings 
Genesis Minerals to Acquire Vault in A$5.6 Billion Deal After Regis Withdraws 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
Samsung to Launch First Yongin Chip Plant by 2029 as South Korea Speeds Up Semiconductor Hub 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
UBS Starts CarTrade Tech With Buy Rating, Sees Strong Earnings Growth and ₹4,000 Target 
New Stores Added 3.6% to Total Sales
Trend Improved Mid-Month
JACKSONVILLE, Fla., Dec. 03, 2015 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (NASDAQ:SMRT) today reported total sales for the four-week period ended November 28, 2015 of $126.4 million, a 1.2 percent decrease over total sales of $127.9 million for the four-week period ended November 29, 2014. Comparable store sales for the four-week period ended November 28, 2015 decreased 4.8 percent from November 2014.
Total sales of $1.09 billion for the forty-three week period ended November 28, 2015 increased 3.2 percent from total sales of $1.06 billion for the forty-three week period ended November 29, 2014. Comparable store sales for the forty-three week period ended November 28, 2015 increased 1.1 percent from comparable store sales for the period ended November 29, 2014.
The entire November comparable sales shortfall occurred during the first two and one-half weeks of the month. Sales then improved to flat to last year for the remainder of the month and positive in early December. Geographically, the West and the Northeast had the strongest sales in November where temperatures were cooler, while Florida and Texas performed below the chain.
The Company operated 278 stores at the end of November this year compared to 269 stores last year. During the month, four new stores were opened in Brookhaven (Atlanta), GA; Coral Springs, FL; Rochester Hills (suburban Detroit), MI; and Torrance (Los Angeles), CA.
About Stein Mart
Stein Mart stores offer the fashion merchandise, service and presentation of a better department or specialty store, at prices competitive with off-price retail chains. With 278 locations from California to Massachusetts, as well as steinmart.com, Stein Mart’s focused assortment of merchandise features current season, moderate to better fashion apparel for women and men, as well as accessories, shoes and home fashions. For more information, please visit www.steinmart.com.
SMRT-S
Additional information about Stein Mart, Inc. can be found at www.steinmart.com
For more information: Linda L. Tasseff Director, Investor Relations (904) 858-2639 [email protected]
