The May Department Stores Company Reports Sales for January
February 03 2005 - 8:49AM
PR Newswire (US)
The May Department Stores Company Reports Sales for January ST.
LOUIS, Feb. 3 /PRNewswire-FirstCall/ -- The May Department Stores
Company (NYSE:MAY) reported preliminary net sales of $808 million
for the four-week period ended Jan. 29, 2005, a 12.9% increase from
$715 million in the similar period last year. Store-for-store sales
decreased 7.2%. January store-for-store sales decreased 7.0%,
excluding the remaining seven stores that May previously announced
it will divest. Net sales for fiscal year 2004 were $14.44 billion,
an 8.2% increase compared with $13.34 billion in fiscal 2003. Net
sales were as follows: (dollars in Fiscal Fiscal Percent
Store-for-Store Decrease millions) 2004 2003 Increase Actual
Adjusted * January $808.0 $715.4 12.9 % (7.2)% (7.0)% Fourth
quarter 5,039.0 4,493.5 12.1 (5.2) (5.0) Fiscal year 14,441.0
13,342.5 8.2 (2.4) (2.2) * Excludes the remaining seven 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. Tailored ladies' sportswear for
the younger customer and men's tailored apparel were among the
strongest performing categories, benefiting from sales of clearance
and new Spring merchandise. Jewelry and special occasion dresses
also experienced sales increases, as did young men's and luggage.
Ladies' classic sportswear, coats, intimate apparel, children's,
men's sportswear, and home furnishings were among the weaker
performers. During January, May closed seven Lord & Taylor
stores, which were part of the original 32 the company said in July
2003 it would divest, and to date has closed 25 of those stores.
The May Department Stores Company currently operates 491 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, 449 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, The May Department Stores Company, +1-314-342- 6494
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