Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Robin Murchison - SunTrust Robinson Humphrey
Robin Murchison - SunTrust Robinson Humphrey
What is your estimate of the traffic impact on the same store sales figure? How much do you think that accounts for cost?
Michael Ray
We won’t get into the specifics of that but traffic is definitely down in the stores where we track traffic.
Robin Murchison - SunTrust Robinson Humphrey
Are there any positive metrics in terms of either AUR or units per transaction or anything like that that you can share with us?
James Delfs
All of those metrics are in the negative. The units are down as well as the average unit retail both for the quarter and for the half.
Robin Murchison - SunTrust Robinson Humphrey
When you look out to the department store sector and the ability that the department store sector has to weigh heavily on promotions, it seems like last year and in some prior years just for example a lot of times Macy’s has their big monthly sale the same weekend as maybe the 12 hour sale at Stein Mart, is there any way to get around whatever big promotional event that you are planning for a month with what some of the bigger guys are doing, or separate them somehow?
Linda Farthing
In this environment we’ve had to be much more promotional and I understand your question in terms of it hits the same day, Macy’s as for example, we’re not up against Macy’s in many of our markets and we would, the 12 hour sale is one of our best sales of the year and those have continued to be strong for us.
Robin Murchison - SunTrust Robinson Humphrey
We’ve heard, on Friday Ann Taylor second quarter earnings call, we hear Ann talking about moving away from suits and basically trying to get a little more contemporary with basics, but certainly move out of the suited traditional wear-to-work category, do you think that has any impact or if you think about that with regard to your business, keeping in mind that there is some crossover in customer base, do you think that that has any impact on how you might plan your business on a go forward basis?
William Moll
Yes I do, that’s why if you noticed in my comments, structured sportswear both men’s and women’s has been difficult. I do believe we have a nice career business in Stein Mart and what we try to do is relax a lot of these jackets and relax some of the sweater offerings so where cardigans are doing very well right now, when traditionally you might have a more structured jacket that would do better. So yes, we are seeing exactly what’s taking place on that avenue and I think the new Attitudes area as the career part comes in this month and next month, you’ll see those changes.
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