May Company Comps Down 4.2%

The May Department Stores Company (NYSE: MAY) 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.