Stein Mart, Inc. (Nasdaq: SMRT) today announced that a record comparable store sales increase for the quarter ending July 1, 2000 will drive earnings for the period significantly higher than prior expectations.

Comparable store sales increased approximately 12.5 percent from the second quarter of 1999 to the second quarter of 2000. The Company expects to report earnings per share approximately 25 percent ahead of analysts' current estimates of $0.25 per share.
Stein Mart will report its complete second quarter and six months financial results prior to the opening of the financial markets on Tuesday, July 25, 2000. Further details will be available at that time.

About Stein Mart

Stein Mart's 211 stores offer the merchandise, service and presentation of a traditional, better department/specialty store, at prices competitive with off-price retail chains. Currently with locations from California to New York, Stein Mart's focused assortment of merchandise features moderate to designer brand-name apparel for women, men and children, as well as accessories, gifts, linens and shoes.