The May Department Stores Company preliminary net sales were $1.05 billion for the four-week period ended Aug. 28, 2004, a 10.5% increase from $953.8 million in
the similar period last year. Store-for-store sales decreased 6.7%. August store-for-store sales decreased 5.9%, excluding the remaining 15 stores that May previously announced it will divest.
August sales were positively impacted by a timing change in the Texas
sales tax holiday and the related movement of a major end-of-week sales
promotion event at the Foley's division from the last week of July 2003 to the
first week of August 2004. However, this increase was more than offset by the
movement of the pre-Labor Day sales promotion event from the last week of
August 2003 to the first week of September 2004.
Net sales for the first seven months of fiscal 2004 were $6.97 billion, a
2.1% increase, compared with $6.83 billion during the first seven months of
fiscal 2003.
Net sales were as follows:
(dollars in Fiscal Fiscal Percent Store-for-Store Decrease
millions) 2004 2003 Increase Actual Adjusted *August $1,053.9 $953.8 10.5 % (6.7)% (5.9)%
Year-to-date 6,972.5 6,826.7 2.1 (1.1) (0.5)
