The May Department Stores net sales were $2.84 billion for the five-week period ended Jan. 1, 2005, a 13.0% increase from $2.52 billion in the similar period last year. Store-for-store sales decreased 3.5%. December store-for-store sales decreased 3.3%, excluding the remaining 14 stores that May previously announced it will divest.
Net sales for the first 11 months of fiscal 2004 were $13.63 billion, an 8.0% increase, compared with $12.63 billion during the first 11 months of fiscal 2003.
Net sales were as follows:
(dollars in Fiscal Fiscal Percent Store-for-Store Decrease
millions) 2004 2003 Increase Actual Adjusted *
December $2,844.1 $2,517.3 13.0 % (3.5)% (3.3)%
Year-to-date 13,633.1 12,627.1 8.0 (2.4) (2.0)
* Excludes the remaining 14 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’s overall December sales did not reach expected levels. Moderate classic sportswear, coats, and dresses in ladies apparel as well as home furnishings were below store trend.
Stronger-performing giftable categories included jewelry, better handbags, fragrances, electronic gifts, and luggage. Ladies suits and tailored sportswear looks appealing to the young-adult female customer continued to outpace the store. Men’s dress shirts, neckwear, suit separates, and modern sportswear collections achieved sales increases, as did young men’s apparel and children’s.
