Exhibit 99.1

1200 RIVERPLACE BOULEVARD — JACKSONVILLE, FL 32207-1809 — (904) 346-1500

Stein Mart, Inc. Reports Third Quarter 2014 Results

Third Quarter Highlights

JACKSONVILLE, FL – Stein Mart, Inc. (NASDAQ: SMRT) today announced financial results for the third quarter ended November 1, 2014.

Overview of Results

The net loss for the third quarter was $1.2 million or $0.03 loss per diluted share compared to net income of $28 thousand or breakeven per diluted share in 2013. Third quarter adjusted net income was $0.9 million or $0.02 per diluted share compared to adjusted net loss of $0.3 million or $0.01 loss per diluted share in 2013 (see Note 1).

For the first nine months of 2014, net income was $14.6 million or $0.32 per diluted share compared to $18.1 million or $0.40 per diluted share in the same period in 2013. Adjusted net income for the first nine months of 2014 was $18.3 million or $0.40 per diluted share compared to adjusted net income of $18.8 million or $0.42 per diluted share in 2013 (see Note 1).

Adjusted earnings before interest, income taxes, depreciation and amortization (“EBITDA”) for the first nine months of 2014 was $55.8 million compared to adjusted EBITDA of $54.3 million for the same period in 2013 (see Note 2).

Comments on Results

“We are pleased with our third quarter 3.1 percent comparable sales increase, improved adjusted earnings and the sales boost from our 2014 new and relocated stores for the quarter” said Jay Stein, Chief Executive Officer. “This was a great way to start our fall season, as we turn our attention to the very important fourth quarter.”

Sales

Total sales for the third quarter of 2014 increased 4.5 percent to $303.7 million, while comparable store sales increased 3.1 percent. For the nine months of 2014, total sales increased 3.1 percent to $930.7 million, while comparable store sales increased 2.3 percent.

Gross Profit

Gross profit for the third quarter of 2014 was $84.6 million or 27.8 percent of sales. Including the $2.4 million impact of the fourth quarter 2013 accounting estimate change (see Note 3), adjusted gross profit for the third quarter of 2013 would have been $80.2 million or 27.6 percent of sales. The increase in the adjusted gross profit

rate for the third quarter was primarily the result of higher markup somewhat offset by higher occupancy costs. Gross profit for the first nine months of 2014 was $273.1 million or 29.3 percent of sales. Including the $9.6 million impact of the fourth quarter 2013 accounting estimate change (see Note 3), adjusted gross profit for the first nine months of 2013 would have been $265.6 million or 29.4 percent of sales.

Selling, General and Administrative Expenses

Selling, general and administrative (“SG&A”) expenses for the third quarter of 2014 were $86.3 million. Including the $3.8 million impact of the fourth quarter 2013 accounting estimate change (see Note 3), SG&A expenses for the third quarter of 2013 would have been $81.7 million. The $4.6 million increase over adjusted 2013 SG&A expenses is primarily the result of higher store selling expenses due to planned payroll increases and new and relocated stores, higher professional fees associated with the SEC investigation (see Note 1) and higher store closing charges from greater store relocation activity in the third quarter this year (see Note 1 and Updated 2014 Outlook). These increases were somewhat offset by lower earnings-based incentive compensation expense.

For the first nine months, SG&A expenses were $249.0 million. Including the $11.0 million impact of the fourth quarter 2013 accounting estimate change (see Note 3), SG&A expenses for the first nine months of 2013 would have been $236.9 million. The $12.1 million increase over adjusted 2013 SG&A expenses is primarily the result of the same items set forth in the previous paragraph, plus $3.2 million higher healthcare costs and $2.1 million in higher advertising expenses. As discussed in our second quarter earnings release, the higher healthcare costs are due to unusually unfavorable claims experience this year compared to favorable claims experience last year.

Income Tax Provision

The effective tax rate for the first nine months of 2014 was 39.1 percent compared to 39.4 percent in 2013.

Balance Sheet Highlights

Cash at the end of the third quarter was $64.9 million. This compares to $59.5 million at the end of the third quarter of 2013. The increase from 2013 to 2014 is after dividend payments and stock repurchases, as well as capital expenditures and increased investment in inventories.

Inventories were $343.7 million at the end of the third quarter of 2014, 4.3 percent higher than the $329.7 million at the end of the third quarter last year. Giving impact to last year’s accounting estimate change (see Note 3), average inventories per store were up 3.4 percent. This increase reflects planned investments to drive continuing growth in Home and Accessories.

Store Activity

We operated 268 stores at the end of the third quarter this year compared to 264 at the end of the third quarter last year. We opened a new store in Carlsbad, CA earlier this month and will be opening our new Delray Beach, FL store next month. That will complete our 2014 store plan which included nine new stores, seven relocations and three closings. Pre-opening costs related to new and relocated stores were $2.0 million in the third quarter of 2014 and $3.9 million in the first nine months compared to $1.6 million in the third quarter of last year and $2.2 million in the first nine months of last year.

While our 2015 store plan is not complete, we currently plan to open at least ten new stores, relocate two stores and close two stores next year. Our spring plan, which is final, includes one new store and one closing store.

Updated 2014 Outlook

Based on our results through the third quarter, we have updated our 2014 outlook as follows:

Filing of Form 10-Q

Reported results are preliminary and not final until the filing of our Form 10-Q for the fiscal quarter ended November 1, 2014 with the Securities and Exchange Commission (“SEC”), and therefore remain subject to adjustment.

Conference Call

A conference call for investment analysts to discuss the Company’s third quarter 2014 results will be held at 10 a.m. EDT on November 20, 2014. The call may be heard on the investor relations portion of the Company’s website at http://ir.steinmart.com. A replay of the conference call will be available on the website through November 30, 2014.

Investor Presentation

Stein Mart’s third quarter 2014 investor presentation has been posted to the investor relations portion of the Company’s website at http://ir.steinmart.com.

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. Currently with over 260 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.

Cautionary Statement Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this release may be forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company does not assume any obligation to update or revise any forward-looking statements even if experience or future changes make it clear that projected results expressed or implied will not be realized. Forward-looking statements involve known and unknown risks and uncertainties that may cause Stein Mart’s actual results in future periods to differ materially from forecasted or expected results. Those risks include, without limitation:

SMRT-F

###

Stein Mart, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands, except for share and per share data)

Stein Mart, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)

Stein Mart, Inc.

Condensed Consolidated Statements of Comprehensive (Loss) Income

(Unaudited)

(In thousands)

Stein Mart, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

NOTES TO PRESS RELEASE

Note 1 - Adjusted Results

We report our consolidated financial results in accordance with generally accepted accounting principles (“GAAP”). However, to supplement these consolidated financial results, management believes that certain non-GAAP operating results, which exclude those items detailed below, may provide a more meaningful measure to compare our results of operations between periods. We believe these non-GAAP results provide useful information to both management and investors by excluding certain items that impact comparability of the results.

Reconciliation of Operating Income/(Loss), Net Income/(Loss) and Diluted EPS from GAAP Basis to Adjusted Non-GAAP Basis

Unaudited

(in thousands, except for share data)

Note 2 - EBITDA

As used in this release, EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. EBITDA is not a measure of financial performance under GAAP. However, we present EBITDA in this release because we consider it to be an important supplemental measure of our performance and because it is frequently used by analysts, investors and others to evaluate the performance of companies. EBITDA is not calculated in the same manner by all companies. EBITDA should be used as a supplement to results of operations and cash flows as reported under GAAP and should not be considered to be a more meaningful measure than, or an alternative to, measures of operating performance as determined in accordance with GAAP.

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

Unaudited

(in thousands)

Note 3 - Supplemental Schedule: Impact of Fourth Quarter 2013 Change in Estimate on 2013 Quarters

We refined our estimation of the buying and distribution costs allocated to inventories during the fourth quarter of 2013. The change lowered the percentage of expenses allocated to inventory purchases resulting in a $5.0 million decrease in inventories comprised of a $15.0 million increase in SG&A expenses and a $10.0 million increase in gross profit, recorded in the 2013 fourth quarter. The lower cost allocation percentage will similarly impact both the beginning and ending inventory amounts in 2014 and future periods. That is, the higher SG&A expenses will be offset by higher gross profit. The only expected meaningful impact to earnings will result from changes in inventory levels.

Because the cumulative effect of the change in estimate was recorded in the fourth quarter, management believes that certain non-GAAP operating results, which present our best estimate of the impact of the fourth quarter 2013 change in allocation estimate on all 2013 quarters, may provide a more meaningful measure on which to compare our results of operations between 2014 and 2013 periods. See reconciliation below.

Reconciliation of Fiscal 2013 Gross Profit and SG&A Expenses from GAAP Basis to Adjusted Non-GAAP Basis For Fourth Quarter 2013 Accounting Estimate Change

Unaudited

(in thousands)