May Stores

Headquarters: 611 Olive Street
St. Louis, MO 63101
314-342-6300
Employees: 132,000
Interim CEO: John Dunham
Stock Symbol: FD
Website: http://www.mayco.com

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May is a national operator of depatment stores.

At the end of 2004, May had 491 department stores under the names of Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, and The Jones Store, as well as 239 David's Bridal stores, 449 After Hours Formalwear stores, and 11 Priscilla of Boston stores. May currently operates in 46 states, the District of Columbia, and Puerto Rico.

For fiscal 2004, May had revenues of $14.4 billion. Net earnings were $524 million. The company recently closed 32 underperforming Lord & Taylor stores.

Federated announced it would acquire May Stores in a deal worth $17 billion to create a national powerhouse in department store retailing. Federated announced it would expand the Macy's brand and close many store brands operated by May including Famous-Barr, Filene's, Foley's, Kaufmann's, Robinsons-May, Strawbridge's and The Jones Store. About 330 stores would convert to the Macy's name and 68 duplicate locations where both stores are located will close in 2006.

History

In 1877, David May opened the first store of what was to become The May Department Stores Company in Leadville, Colo., a silver-mining boom town. In 1892, May and three brother-in-law partners purchased The Famous Clothing Store in St. Louis. In 1898, May and partners purchased a department store in Cleveland and named it May Company.

In 1905, May headquarters were moved to St. Louis and in 1910, the company was incorporated. Total company sales were then $1 million.

May would continue to grow through the century by acquiring other store chains including Hecht's, Filene's, Lord and Taylor, Kauffmann's and Strawbridge & Clothier. In 2000, May would acquire David Bridal's and After Hours Formalwear in 2001.