Stein Mart sales comparison drops 2 percent in December, hurt by harsh winter weather

Stein Mart sales comparison drops 2 pct in Dec.

CINCINNATI — Department store Stein Mart Inc. said Thursday that sales in stores open at least a year fell 2 percent in December, as harsh winter weather along the East Coast curbed customer traffic.

Sales at stores open at least a year are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones.

The Jacksonville, Fla., company said business started slowly in December but picked up before Christmas. Total sales for the five weeks ended Jan. 2 dropped 4.4 percent to $170.2 million.

Sales of women’s casual sportswear and accessories performed well, as did sales of home products, but sales of women’s suits and office clothing lagged. The company’s stores in the Midwest had the strongest sales performances during the month.

Year-to-date, Stein Mart said sales in stores open at least a year were down 5.8 percent. Total sales have fallen 8.3 percent to $1.16 billion.

The chain operated 267 stores as of Jan. 2, compared with 278 stores at the same time last year.