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Stein Mart key revenue metric falls in February

Stein Mart posts 2.1 pct drop in key sales measure in February, blames bad winter weather

Associated Press

JACKSONVILLE, Fla. (AP) -- Stein Mart Inc. is the latest retailer to report that bad weather has hurt its sales.

The Jacksonville, Fla.-based discount store chain said Thursday that a key sales measure fell 2.1 percent in February.

Stein Mart said sales in stores open at least a year rose in Florida and Texas. But the measure dropped in most other areas, especially in the Northeast and Midwest, because of storms and cold.

The company said its total sales for the four weeks through March 1 fell 2.5 percent to $84.5 million.

Stein Mart operated 264 stores at the end of February.