The May Department Stores Co. (St. Louis) reported a preliminary 1.5 percent increase in net sales for the five week period ended Oct. 4, 2003. Same-store sales decreased 0.3 percent. (But the same-store sales performance was actually up 0.4 percent if the remaining 32 stores that May had previously announced it will divest are included.)
For the first eight months of fiscal 2003, sales decreased 3 percent, same-store sales decreased 4.9 percent and adjusted same-store sales were down 4.7 percent.
During September, the department store organization opened a Hecht's store at Short Pump Town Center in Richmond, Va. Year-to-date, May has opened eight new department stores, with two stores remaining to open in 2003 — a Famous-Barr store in Columbia, Mo., and a Kaufmann's store in Pittsburgh.
May's Bridal Group opened four new David's Bridal stores during September, for a total of 16 year-to-date. An additional 14 David's stores will open by year-end. The Bridal Group also completed the acquisition of 66 Desmonds Formalwear stores in September.