Department Store Industry - Summary Financials for the Main Players ($Million)

Department Stores	FY 1995	FY 1996	FY 1997	FY 1998	FY 1999	FY 2000
Saks Incorporated
Net Income	63	81	405	(1)	190	75
Revenue	2,745	4,927	5,509	5,964	6,434	6,581
Total Assets	919	2,086	4,270	5,189	5,099	5,051
Equity	386	898	1,945	2,008	2,208	2,294
Kohl's Corporation (NYSE:KSS)
Net Income	73	103	141	192	258	372
Revenue	1,926	2,388	3,060	3,682	4,557	6,152
Total Assets	805	1,123	1,620	1,936	2,931	3,855
Equity	411	518	955	1,163	1,686	2,203
Sears, Roebuck and Co.
Net Income	1,271	1,188	1,048	1,453	1,343	735
Revenue	38,064	41,574	39,953	39,484	40,848	40,990
Total Assets	36,167	38,700	37,675	36,954	36,899	44,317
Equity	6,299	7,275	7,476	8,189	8,132	7,395
Belk Inc.
Net Income	44	101	54	57	71	57
Revenue	1,686	1,773	1,945	2,056	2,145	2,264
Total Assets	-	1,359	1,349	1,594	1,632	1,735
Equity	-	672	704	788	822	865
Dillard's, Inc. (NYSE:DDS)
Net Income	167	239	258	135	164	(6)
Revenue	6,097	6,412	6,795	7,978	8,912	8,817
Total Assets	4,779	5,060	5,592	8,172	7,918	7,199
Equity	2,478	2,717	2,808	2,842	2,833	2,630
Gottschalks, Inc.
Net Income	(6)	2	4	5	7	7
Revenue	406	426	425	492	554	677
Total Assets	239	232	242	324	316	410
Equity	78	80	84	104	110	118
May Department Stores Co.
Net Income	752	755	775	849	927	858
Revenue	10,952	12,000	12,390	13,090	13,866	14,210
Total Assets	10,122	10,059	9,930	10,533	10,935	11,574
Equity	4,605	3,663	3,826	3,858	4,106	3,905
Neiman Marcus Group, Inc.
Net Income	77	91	106	95	134	108
Revenue	2,075	2,210	2,338	2,580	2,926	3,016
Total Assets	1,252	1,288	1,438	1,519	1,762	1,786
Equity	483	555	657	741	835	949
J. C. Penney Company, Inc. (NYSE:JCP)
Net Income	838	565	566	594	336	(705)
Revenue	21,242	23,471	30,410	29,761	31,743	31,846
Total Assets	17,102	22,088	23,493	23,508	20,908	19,742
Equity	5,884	5,952	7,357	7,102	7,228	6,259
Macy's, Inc. (NYSE:M)
Net Income	75	266	536	662	795	(184)
Revenue	15,049	15,229	15,220	15,365	16,029	16,638
Total Assets	14,295	14,264	13,738	13,464	17,692	15,574
Equity	4,274	4,669	5,256	5,709	6,552	5,822
The Bon-Ton Stores, Inc. (NasdaqGS:BONT)
Net Income	(9)	7	9	11	10	8
Revenue	610	629	659	677	714	753
Total Assets	331	341	353	378	418	405
Equity	104	112	124	180	191	199
The Elder-Beerman Stores Corp.
Net Income	(63)	(12)	(29)	26	15	(7)
Revenue	609	597	560	611	667	688
Total Assets	367	369	371	452	454	455
Equity	19	6	146	237	246	222
Sears Holdings Corporation (NasdaqGS:SHLD)
Net Income	(571)	(220)	249	518	364	(268)
Revenue	31,713	31,437	32,183	33,674	35,925	35,027
Total Assets	15,033	14,286	13,558	14,166	15,104	14,815
Equity	5,280	5,092	5,434	5,979	6,304	5,882
Source:
S&P Capital IQ database
Notes:
Fiscal years in the department stores sector typically end at the end of January (e.g. Fiscal year 1995 ends at the end of January of 1996)