The May Department Stores Company reported preliminary net sales of $808 million for the four-week period ended Jan. 29, 2005, a 12.9% increase from $715 million in the similar period last year. Store-for-store sales decreased 7.2%. January store-for-store sales decreased 7.0%, excluding the remaining seven stores that May previously announced it will divest.
Net sales for fiscal year 2004 were $14.44 billion, an 8.2% increase compared with $13.34 billion in fiscal 2003.
Net sales were as follows:
(dollars in Fiscal Fiscal Percent Store-for-Store Decrease
millions) 2004 2003 Increase Actual Adjusted *
January $808.0 $715.4 12.9 % (7.2)% (7.0)%
Fourth quarter 5,039.0 4,493.5 12.1 (5.2) (5.0)
Fiscal year 14,441.0 13,342.5 8.2 (2.4) (2.2)
* Excludes the remaining seven 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.
Tailored ladies sportswear for the younger customer and men’s tailored apparel were among the strongest performing categories, benefiting from sales of clearance and new Spring merchandise. Jewelry and special occasion dresses also experienced sales increases, as did young men’s and luggage. Ladies classic sportswear, coats, intimate apparel, children’s, men’s sportswear, and home furnishings were among the weaker performers.
