The May Department Stores reported preliminary net sales of $1.14 billion for the five week period ended Oct. 4, 2003, a 1.5% increase from $1.12 billion in the similar period last year. Store-for-store sales decreased 0.3%. September store-for-store sales increased 0.4%, excluding the remaining 32 stores that May previously announced it will divest.
Sales for the first eight months of fiscal 2003 were $7.96 billion, a 3.0% decrease compared with $8.21 billion during the first eight months of fiscal 2002.
Net sales were as follows:
Fiscal Fiscal Percent Store-for-Store Inc./(Dec.)
(dollars 2003 2002 Inc./ Actual Adjusted *
in millions) (Dec.)
September $1,135.0 $1,117.8 1.5% (0.3)% 0.4%
Year-to-date 7,961.7 8,208.2 (3.0) (4.9) (4.7)
* 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.
May opened a Hecht's store at Short Pump Town Center in Richmond, Va., during September. Year-to-date, May has opened eight new department stores, with two stores remaining to open in 2003: a Famous-Barr store in Columbia, Mo., and a Kaufmann's store in Pittsburgh.
May's Bridal Group opened four new David's Bridal stores during September for a total of 16 year-to-date. An additional 14 David's stores will open by year-end. The Bridal Group also completed the acquisition of 66 Desmonds Formalwear stores in September.
