Exhibit 99.1

THE MAY DEPARTMENT STORES COMPANY ANNOUNCES
COMPLETION OF ITS ACQUISITION OF MARSHALL FIELD'S

     ST. LOUIS, July 30, 2004 - The May Department Stores Company [NYSE: MAY]
announced today that its previously announced acquisition of the Marshall
Field's department store group from Target Corporation will be effective at
11:59 p.m., July 31, 2004.

     The acquisition includes substantially all of the assets that comprise
Marshall Field's, including 62 stores, inventory, customer receivables, and
distribution centers.

     As part of the transaction, May also is acquiring the real estate
associated with nine Mervyn's store locations in the Twin Cities area.  The
transfer of these stores is expected to occur during the third quarter of
2004.

     The Marshall Field's acquisition is being financed through $2.2 billion
of long-term debt and $1.0 billion of short-term borrowings and cash on hand.

     Effective with the closing of the Marshall Field's transaction, The May
Department Stores Company will operate 497 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 220 David's Bridal stores, 454 After Hours Formalwear
stores, and 10 Priscilla of Boston stores in its Bridal Group.  May operates
in 46 states, the District of Columbia, and Puerto Rico.

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