The May Department Stores Company Reports Sales Increase of 2.3% for December
January 08 2004 - 8:42AM
PR Newswire (US)
The May Department Stores Company Reports Sales Increase of 2.3%
for December ST. LOUIS, Jan. 8 /PRNewswire-FirstCall/ -- The May
Department Stores Company reported preliminary net sales of $2.52
billion for the five-week period ended Jan. 3, 2004, a 2.3%
increase from $2.46 billion in the similar period last year.
Store-for-store sales increased 1.1%. December store-for-store
sales increased 1.6%, excluding the remaining 30 stores that May
previously announced it will divest. Net sales for the first 11
months of fiscal 2003 were $12.63 billion, a 1.6% decrease compared
with $12.84 billion during the first 11 months of fiscal 2002. Net
sales were as follows: Fiscal Fiscal Percent Store-for-Store
Inc./(Dec.) (dollars in 2003 2002 Inc./(Dec.) Actual Adjusted *
millions) December $ 2,517.0 $ 2,459.6 2.3% 1.1% 1.6% Year-to-date
12,626.8 12,835.5 (1.6) (3.2) (3.0) * Excludes the remaining 30
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. Giftables led our
December business. The driving forces were "initial" products,
"signature" logos, and the appeal of color. This was particularly
important in costume and silver jewelry, handbags, and small
leather goods, as well as ladies' tops. We also experienced strong
sales in fashion cold-weather merchandise such as knit scarves,
mufflers, gloves, and headwear. Other jewelry classifications that
performed well were earrings and leather-strap fashion watches.
Men's gifts had strong performances in designer dress shirts and
neckwear, as did our "gift headquarters" shops featuring
interactive games, portable companion televisions, and air
purifiers. Non-apparel gift ideas from home that performed well
included portable electronics like Apple iPod MP3 players,
mini-screen DVD players, and digital cameras. Cookware, novelty
bakeware, gadgets, and personal care classifications such as back
and body massagers and shavers also were popular gifts. Furniture
sales were strong, although the home store business, especially
textiles and tabletop, lagged. Other businesses that achieved good
sales were apparel for the younger customer in both tailored and
casual sportswear and active and young men's collections. Shoes,
boots, and ladies' suits also achieved increases. May's Bridal
Group opened nine David's Bridal stores in December, completing its
plan to open 30 stores in fiscal 2003. May also opened six After
Hours Formalwear stores and acquired 125 Gingiss Formalwear and
Gary's Tux Shop stores. The May Department Stores Company currently
operates 448 department stores under the names of Lord &
Taylor, Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, L.S.
Ayres, Meier & Frank, Robinsons-May, Strawbridge's, and The
Jones Store, as well as 210 David's Bridal stores, 463 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. Contact: Sharon Bateman 314-342-6494 DATASOURCE: The
May Department Stores Company CONTACT: Sharon Bateman,
+1-314-342-6494, for The May Department Stores Company
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