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The May Department Stores Company Reports Sales for October ST. LOUIS, Nov. 1 /PRNewswire-FirstCall/ -- The May Department Stores Company (NYSE:MAY) reported preliminary net sales of $1.09 billion for the four-week period ended Oct. 30, 2004, a 22.9% increase from $887.3 million in the similar period last year. Store-for-store sales decreased 2.3%. October store-for-store sales decreased 2.2%, excluding the remaining 15 stores that May previously announced it will divest. For the third quarter of fiscal 2004, net sales were $3.48 billion, a 17.0% increase compared with $2.98 billion during the third quarter of fiscal 2003. Net sales for the first nine months of fiscal 2004 were $9.40 billion, a 6.2% increase, compared with $8.85 billion during the first nine months of fiscal 2003. Net sales were as follows: (dollars in millions) Store-for-Store Decrease Fiscal Fiscal Percent 2004 2003 Increase Actual Adjusted * October $1,090.3 $887.3 22.9% (2.3)% (2.2)% Third quarter 3,483.4 2,976.1 17.0 (3.4) (3.0) Year-to-date 9,402.0 8,849.0 6.2 (1.3) (0.8) * Excludes the remaining 15 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. Despite the fact that some of our merchandise categories met or exceeded plan, our overall sales did not achieve the expected levels. In particular, dresses, coats, and intimate apparel were among the weaker performers. Home furnishings remained difficult. Sportswear appealing to the young-adult female customer and ladies' suits continued to experience sales increases, as did ladies' accessories led by jewelry, better handbags, ponchos, and other fashion-right layering pieces. In men's apparel, designer dress shirts, neckwear, suit separates, and collections sportswear with a modern twist also had increases. Sales of junior sportswear and young men's sportswear were above the trend for the total store. During October, May opened four department stores: a Foley's store in El Paso, Texas; a Hecht's store in Nashville, Tenn.; a Meier & Frank store in Portland, Ore.; and a Robinsons-May store in Rancho Cucamonga, Calif. Three additional openings are planned for the year. May's Bridal Group opened six David's Bridal stores in October for a total of 19 new stores to date this year. The Bridal Group also opened two After Hours Formalwear stores for a total of 13 year-to-date. An additional 11 David's Bridal stores and seven After Hours stores will open by year-end. The May Department Stores Company currently operates 500 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 229 David's Bridal stores, 458 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 of The May Department Stores Company, +1-314-342-6494

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