The May Department Stores Company Reports Sales for August ST. LOUIS, Sept. 2 /PRNewswire-FirstCall/ -- The May Department Stores Company [NYSE: MAY] reported preliminary net sales of $1.05 billion for the four-week period ended Aug. 28, 2004, a 10.5% increase from $953.8 million in the similar period last year. Store-for-store sales decreased 6.7%. August store-for-store sales decreased 5.9%, excluding the remaining 15 stores that May previously announced it will divest. August sales were positively impacted by a timing change in the Texas sales tax holiday and the related movement of a major end-of-week sales promotion event at the Foley's division from the last week of July 2003 to the first week of August 2004. However, this increase was more than offset by the movement of the pre-Labor Day sales promotion event from the last week of August 2003 to the first week of September 2004. Net sales for the first seven months of fiscal 2004 were $6.97 billion, a 2.1% increase, compared with $6.83 billion during the first seven months of fiscal 2003. Net sales were as follows: (dollars in Fiscal Fiscal Percent Store-for-Store Decrease millions) 2004 2003 Increase Actual Adjusted * August $1,053.9 $953.8 10.5 % (6.7)% (5.9)% Year-to-date 6,972.5 6,826.7 2.1 (1.1) (0.5) * Excludes the remaining 15 stores that May previously announced it will divest. Net sales include merchandise sales and lease department income. Store- for-store sales compare sales of stores open during both years beginning the first day a new store has prior-year sales and exclude sales of stores closed during both years. Beginning Aug. 1, 2004, Marshall Field's is included in net sales, but not store-for-store sales. August sales included strong performances in a number of merchandise categories, offset by weakness in home furnishings and apparel clearance. Stronger performing categories were ladies' bridge shoes, ladies' suits, men's suit separates, neckwear, luggage, and electronic giftables. Ladies' accessories also achieved a sales increase, benefiting from the appeal of this season's must-haves, including signature handbags, linear earrings, brooches, and ponchos. In ladies' sportswear and children's, new fall merchandise performed well. Tailored sportswear looks -- led by fashion newness in item jackets, novelty tops, and skirts -- won with the young-adult female customer, as did denim jeans and jackets. Apparel sales in juniors and young men's were above the total store trend, while dresses and intimate apparel lagged the store's performance. May's Bridal Group opened one After Hours Formalwear store in August for a total of eight new stores to date this year. An additional 12 After Hours stores will open by year-end. The May Department Stores Company currently operates 497 department stores under the names of Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, and The Jones Store, as well as 220 David's Bridal stores, 455 After Hours Formalwear stores, and 10 Priscilla of Boston stores in its Bridal Group. May operates in 46 states, the District of Columbia, and Puerto Rico. For more information, contact Sharon Bateman at (314) 342-6494. DATASOURCE: The May Department Stores Company CONTACT: Sharon Bateman, The May Department Stores Company, +1-314-342-6494

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