May Company January Comps Decrease 4.4%

The May Department Stores Company reported preliminary net sales of $655 million for the four-week period ended Feb. 1, 2003, a 2.5% decrease from $671 million in the similar four-week period last year. Store-for-store sales decreased 4.4%.

Net sales for fiscal 2002 were $13.49 billion, a 2.8% decrease compared with $13.88 billion in fiscal 2001.

Net sales were as follows:

                              Fiscal      Fiscal    Percent    Store-for-Store
    (dollars in millions)       2002        2001    Decrease      Decrease
    January                $   655.0   $   671.4     (2.5)%        (4.4)%
    Fourth quarter           4,373.1     4,575.8     (4.4)         (6.0)
    Fiscal year             13,490.5    13,883.4     (2.8)         (5.3)