The May Department Stores Company reported preliminary net sales of $880 million for the four-week period ended Feb. 28, 2004, a 4.1% increase from $846 million in the similar period last year. Store-for-store sales increased 2.6%. February store-for-store sales increased 3.3%, excluding the remaining 23 stores that May previously announced it will divest. 

    Net sales were as follows:
                                                          Store-for-Store
                           Fiscal    Fiscal    Percent       Increase
                            2004      2003    Increase   Actual    Adjusted *
    (dollars in millions)
    February              $ 880.4   $ 846.1      4.1%     2.6%       3.3%

    * Excludes the remaining 23 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.

Handbags, small leather goods, jewelry, and fashion watches continued to
drive the accessories business and were particularly strong during the pre-
Valentine's Day period, as were new fragrance lines. Newness in jackets and
skirts helped fuel sales of tailored looks in ladies' sportswear and suits.
Dresses experienced a significant upturn, led by special occasion categories
from prom to mother-of-the bride, as well as petites and women's sizes.

The momentum in footwear accelerated, and juniors and young men's
sportswear businesses continued to be among our top performers. In men's
collections, the more modern lifestyle is winning with the fashion customer.
In children's, there was improvement in girls and tween apparel categories;
and layette was a standout.

The debut of Hotel Suite — our new, high-quality proprietary brand of
luxury textiles, china, crystal, and furniture — was well received by the
customer. Electronic gifts and home decor product also performed well, but
the total home furnishings results were lackluster overall.

Sales of new, fashion-right spring merchandise were strong throughout
apparel and accessories. Customers responded to the appeal of color, led by
shades of pink; modern stripes interpreted across the store from men's sport
shirts to sheets and comforters; and the resurgence of feminine looks in
footwear, jewelry, and apparel. Current trends in shorts, swimwear,
sunglasses, make-up, and skin care, as well as luggage bode well for the
coming warm-weather months.

May's Bridal Group opened two After Hours Formalwear stores in February.

In fiscal 2004, May plans to open eight department stores: two Foley's
stores, two Hecht's stores, and one store each for Filene's, Meier & Frank,
Robinsons-May, and The Jones Store. May also plans to open 30 David's Bridal
stores, an additional 18 After Hours stores, and two Priscilla of Boston
stores.