The May Department Stores Co. (St. Louis) has reported a 22.9 percent increase in preliminary net sales for the four-week period ended Oct. 30, 2004. Same-store sales decreased 2.3 percent (with a 2.2 percent decline when the remaining 15 stores that May had previously announced it will divest are excluded).
For the third quarter of fiscal 2004, net sales were up 17 percent increase and same-store sales down 2.3 percent.
Net sales are up 6.2 percent for the first nine months of fiscal 2004. Same-store sales are down 1.3 percent.
“Despite the fact that some of our merchandise categories met or exceeded plan, our overall sales did not achieve the expected levels,” the company said in a statement.
During October, May opened four new department stores: a Foley’s in El Paso, Texas; a Hecht’s in Nashville, Tenn.; a Meier & Frank in Portland, Ore.; and a Robinsons-May store in Rancho Cucamonga, Calif. Three additional openings are planned for the year.