The May Department Stores Company Reports Sales for October
November 01 2004 - 9:48PM
PR Newswire (US)
The May Department Stores Company Reports Sales for October ST.
LOUIS, Nov. 1 /PRNewswire-FirstCall/ -- The May Department Stores
Company (NYSE:MAY) reported preliminary net sales of $1.09 billion
for the four-week period ended Oct. 30, 2004, a 22.9% increase from
$887.3 million in the similar period last year. Store-for-store
sales decreased 2.3%. October store-for-store sales decreased 2.2%,
excluding the remaining 15 stores that May previously announced it
will divest. For the third quarter of fiscal 2004, net sales were
$3.48 billion, a 17.0% increase compared with $2.98 billion during
the third quarter of fiscal 2003. Net sales for the first nine
months of fiscal 2004 were $9.40 billion, a 6.2% increase, compared
with $8.85 billion during the first nine months of fiscal 2003. Net
sales were as follows: (dollars in millions) Store-for-Store
Decrease Fiscal Fiscal Percent 2004 2003 Increase Actual Adjusted *
October $1,090.3 $887.3 22.9% (2.3)% (2.2)% Third quarter 3,483.4
2,976.1 17.0 (3.4) (3.0) Year-to-date 9,402.0 8,849.0 6.2 (1.3)
(0.8) * 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. Despite the fact that some of our merchandise categories met
or exceeded plan, our overall sales did not achieve the expected
levels. In particular, dresses, coats, and intimate apparel were
among the weaker performers. Home furnishings remained difficult.
Sportswear appealing to the young-adult female customer and ladies'
suits continued to experience sales increases, as did ladies'
accessories led by jewelry, better handbags, ponchos, and other
fashion-right layering pieces. In men's apparel, designer dress
shirts, neckwear, suit separates, and collections sportswear with a
modern twist also had increases. Sales of junior sportswear and
young men's sportswear were above the trend for the total store.
During October, May opened four department stores: a Foley's store
in El Paso, Texas; a Hecht's store in Nashville, Tenn.; a Meier
& Frank store in Portland, Ore.; and a Robinsons-May store in
Rancho Cucamonga, Calif. Three additional openings are planned for
the year. May's Bridal Group opened six David's Bridal stores in
October for a total of 19 new stores to date this year. The Bridal
Group also opened two After Hours Formalwear stores for a total of
13 year-to-date. An additional 11 David's Bridal stores and seven
After Hours stores will open by year-end. The May Department Stores
Company currently operates 500 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 229
David's Bridal stores, 458 After Hours Formalwear stores, and 11
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 of The
May Department Stores Company, +1-314-342-6494
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