The May Department Stores Company Reports Sales Decrease Of 2.4% For October
November 02 2003 - 7:35PM
PR Newswire (US)
The May Department Stores Company Reports Sales Decrease Of 2.4%
For October ST. LOUIS, Nov. 2 /PRNewswire-FirstCall/ -- The May
Department Stores Company reported preliminary net sales of $887.2
million for the four-week period ended Nov. 1, 2003, a 2.4%
decrease from $909.1 million in the similar period last year.
Store-for-store sales decreased 4.2%. October store-for-store sales
decreased 3.5%, excluding the remaining 32 stores that May
previously announced it will divest. For the third quarter of
fiscal 2003, net sales were $2.98 billion, a 0.5% decrease compared
with $2.99 billion during the third quarter of fiscal 2002. Net
sales for the first nine months of fiscal 2003 were $8.85 billion,
a 2.9% decrease, compared with $9.12 billion during the first nine
months of fiscal 2002. Net sales were as follows: Fiscal Fiscal
Percent Store-for-Store Decrease (dollars in millions) 2003 2002
Decrease Actual Adjusted * October $887.2 $909.1 (2.4)% (4.2)%
(3.5)% Third quarter 2,976.0 2,991.2 (0.5) (2.4) (2.1) Year-to-date
8,848.9 9,117.4 (2.9) (4.8) (4.6) * Excludes the remaining 32
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. During October,
May opened a Kaufmann's store at The Waterfront in Pittsburgh and a
Famous-Barr store at Biscayne Mall in Columbia, Mo. May's Bridal
Group opened four new David's Bridal stores during October for a
total of 20 stores year-to-date. An additional 10 David's stores
will open by year-end. The May Department Stores Company currently
operates 450 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 200 David's Bridal stores, 328 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 of The May Department Stores Company,
+1-314-342-6494
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