Sears April Comparable Store Sales Decrease 2.8 Percent
Sears, Roebuck and Co. today announced total domestic store revenues for the four weeks ended May 4, 2002 were $2.2 billion, flat compared with the four weeks ended May 5, 2001. Comparable domestic store revenues decreased 2.8 percent.
"Comparable store sales for the month were in line with our expectations of a low single-digit decline. We continue to be pleased with our inventory position as well as gross margin performance," said Chairman and Chief Executive Officer Alan J. Lacy.
Hardlines sales continued to perform well, led by strong sales increases in home appliances. As anticipated, apparel sales were negatively impacted by the Easter calendar shift. However, results were below expectations with declines across most softlines merchandise categories. Dealer stores posted a high single-digit sales increase for the month.
Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2001, the company's annual revenue was more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web site, sears.com.
Sears, Roebuck and Co.
4 Weeks 13 Weeks
2002 Domestic Store Revenues
Ended May 4, 2002 $2,218,100,000 $6,679,300,000
2001 Domestic Store Revenues
Ended May 5, 2001 2,217,800,000 6,748,700,000
Percent Change 0.0% -1.0%
Comparable Domestic Stores Percent Change -2.8% -3.6%
SOURCE: Sears, Roebuck and Co.
Contact: Media: Peggy A. Palter, +1-847-286-8361; Investor Relations:
Pam White, +1-847-286-1468, both of Sears, Roebuck and Co.
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