The May Department Stores Co. (St. Louis) has reported a preliminary sales increase of 11.5 percent for the five-week period ended April 3, 2004. Same-store sales increased 10.1 percent (10.9 percent if you exclude the remaining 20 stores that May previously announced it will divest).
The retailer said sales comparisons benefited from Easter occurring one week earlier this fiscal year and the related movement of a major sales promotion event from the first week of fiscal April 2003 to the last week of fiscal March 2004. As a result, the company anticipates its April sales performance will be adversely affected by this calendar shift.
Net sales for the first two months of fiscal 2004 have been up 8.2 percent over the previous year.
During March, May opened a Hecht’s store at Mayfaire Town Center in Wilmington, N.C. In addition, May’s Bridal Group opened one After Hours Formalwear store.