May Dept Stores (NYSE:MAY)
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The May Department Stores Company Reports Sales for December
ST. LOUIS, Jan. 6 /PRNewswire-FirstCall/ -- The May Department Stores Company
(NYSE:MAY) reported preliminary net sales of $2.84 billion for the five-week
period ended Jan. 1, 2005, a 13.0% increase from $2.52 billion in the similar
period last year. Store-for-store sales decreased 3.5%. December
store-for-store sales decreased 3.3%, excluding the remaining 14 stores that
May previously announced it will divest.
Net sales for the first 11 months of fiscal 2004 were $13.63 billion, an 8.0%
increase, compared with $12.63 billion during the first 11 months of fiscal
2003.
Net sales were as follows:
(dollars in Fiscal Fiscal Percent Store-for-Store Decrease
millions) 2004 2003 Increase Actual Adjusted *
December $2,844.1 $2,517.3 13.0 % (3.5)% (3.3)%
Year-to-date 13,633.1 12,627.1 8.0 (2.4) (2.0)
* Excludes the remaining 14 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.
May's overall December sales did not reach expected levels. Moderate classic
sportswear, coats, and dresses in ladies' apparel as well as home furnishings
were below store trend.
Stronger-performing giftable categories included jewelry, better handbags,
fragrances, electronic gifts, and luggage. Ladies' suits and tailored
sportswear looks appealing to the young-adult female customer continued to
outpace the store. Men's dress shirts, neckwear, suit separates, and modern
sportswear collections achieved sales increases, as did young men's apparel and
children's.
May's Bridal Group opened eight David's Bridal stores in December, completing
its plan to open 30 stores in fiscal 2004.
The May Department Stores Company currently operates 501 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 239 David's Bridal stores, 456
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, May Department Stores Company, +1-314-342-6494