May to Open 212 New Stores by End of 2006
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May Department Stores Co. plans to open more than 200 new stores by the end of 2006, continuing the company’s steady expansion plans despite the rocky retail climate the last 18 months.
May, which operates such stores as Lord & Taylor, Famous-Barr and Jones Store, said in a recent Securities and Exchange Commission filing that the company will open 62 new department stores and at least 150 bridal group stores over the next five years. Included in that total is a previously announced Robinsons-May store planned for Orange County’s Irvine Spectrum Center, the company said.
A May company spokeswoman said the $4.1-billion five-year capital plan is mostly a continuation of the company’s pace of expansion during the last several years.
May’s shares rose 33 cents to $35.30 on the NYSE.
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