The May Department Stores Company Reports Sales Increase of 2.5% for June
July 08 2004 - 9:33AM
PR Newswire (US)
The May Department Stores Company Reports Sales Increase of 2.5%
for June ST. LOUIS, July 8 /PRNewswire-FirstCall/ -- The May
Department Stores Company (NYSE:MAY) reported preliminary net sales
of $1.16 billion for the five-week period ended July 3, 2004, a
2.5% increase from $1.13 billion in the similar period last year.
Store-for-store sales increased 1.9%. June store-for-store sales
increased 2.2%, excluding the remaining 18 stores that May
previously announced it will divest. Sales comparisons for June
2004 reflect the shift of Memorial Day into fiscal June, as well as
the related movement of a major end-of-week sales promotion event
from the last week of May 2003 to the first week of June 2004. Net
sales for the first five months of fiscal 2004 were $5.10 billion,
a 1.8% increase compared with $5.01 billion during the first five
months of fiscal 2003. Net sales were as follows: Fiscal Fiscal
Percent Store-for-Store Increase (dollars in millions) 2004 2003
Increase Actual Adjusted * June $1,160.0 $1,132.0 2.5% 1.9 % 2.2 %
Year-to-date 5,100.7 5,009.6 1.8 0.7 1.3 * Excludes the remaining
18 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. The customer's
response to color and fashion continued to propel sales in
handbags, small leather goods, jewelry, watches, and sunglasses.
The demand for career merchandise led to brisk selling in ladies'
suits, dressier looks in ladies' sportswear and footwear, and men's
tailored clothing. Skirts in interesting shapes and new styles,
paired with novelty knit tops, are a uniform of the season, fueling
sales in apparel appealing to the young adult and junior customer.
Men's and young men's sportswear had sales increases, and men's
furnishings -- led by designer dress shirts and neckwear -- was
especially strong. Furniture and mattresses experienced an upturn,
while luggage, personal care electrics, and electronic giftables
were among our top performers. Weaker performers included dresses,
children's apparel, tabletop, and housewares. During June, May's
Bridal Group opened three David's Bridal stores in Texas, North
Carolina, and California. The May Department Stores Company
currently operates 438 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 218 David's Bridal stores, 453 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, +1-314-342-6494, for The May Department
Stores Company
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