Retail Ventures total sales for the five weeks ended January 3, 2004, increased 6.6% to $343.6 million from $322.4 million for the five weeks ended January 4, 2003. The company's same store sales increased 3.0% for the
five week period.

Total sales for the forty-eight weeks ended January 3, 2004, increased
6.0% to $2.471 billion from $2.332 billion for the forty-eight weeks ended
January 4, 2003. The company's same store sales increased 1.3% for the forty-
eight week period.

    Retail sales statistics are as follows:

Five weeks ended ($ in thousands)
January 3, 2004 January 4, 2003
$ % $ %
Total Sales
Value City Department Stores $224,839 65.5 $225,479 69.9
DSW Shoe Warehouse 75,373 21.9 58,861 18.3
Filene's Basement 43,354 12.6 38,102 11.8
$343,566 100.0 $322,442 100.0

Comparable Sales Percentage
Value City Department Stores (0.3)% (1.8)%
DSW Shoe Warehouse 13.9 % (0.4)%
Filene's Basement 9.0 % (3.6)%
3.0 % (1.8)%

Forty-eight weeks ended ($ in thousands)
January 3, 2004 January 4, 2003
$ % $ %
Total Sales
Value City Department Stores $1,439,702 58.3 $1,448,822 62.1
DSW Shoe Warehouse 730,026 29.5 594,001 25.5
Filene's Basement 301,612 12.2 289,650 12.4
$2,471,340 100.0 $2,332,473 100.0

Comparable Sales Percentage
Value City Department Stores (0.4)% (5.1)%
DSW Shoe Warehouse 5.5 % 0.4 %
Filene's Basement 2.3 % 0.4 %
1.3 % (3.4)%