Sears, Roebuck and Co. (NYSE: S) announced today that comparable domestic store revenues decreased 2.6 percent for the four weeks ended July 31, 2004. Total domestic store revenues were $1.84 billion for the four-week period in July 2004, down 4.0 percent compared with the four weeks ended August 2, 2003.
"July comparable store sales tracked in line with expectations," said Sears Chairman and CEO Alan J. Lacy. "Revenues in our home group were essentially flat, while sales declined in apparel and Sears auto centers."
Sears' specialty store revenues were down in the low-single digit range. Off-mall format sales increases were reported by Orchard Supply Hardware and Dealer Stores.
Sears, Roebuck and Co. Domestic Store Revenues & Comparable Store Revenues (*According to National Retail Federation Fiscal Calendar.) (**A store is considered to be comparable at the beginning of the 13th month after the store is opened.) Fiscal Period Ending Percent Change July 31, August 2, All Comp 2004 2003 Stores Stores** July $1,842,000,000 $1,918,800,000 -4.0% -2.6% Year-to-Date* $12,520,500,000 $12,909,100,000 -3.0% -1.8%
The company has made available by phone a recorded message on sales performance of its domestic stores for July 2004. The message can be heard by calling (847) 286-6111 and will be available for approximately one week.
Sears, Roebuck and Co. is a leading broadline retailer providing merchandise and related services. With revenues in 2003 of $41.1 billion, the company offers its wide range of home merchandise, apparel and automotive products and services through more than 2,300 Sears-branded and affiliated stores in the U.S. and Canada, which includes approximately 870 full-line and 1,100 specialty stores in the U.S. Sears also offers a variety of merchandise and services through sears.com, landsend.com, and specialty catalogs. Sears is the only retailer where consumers can find each of the Kenmore, Craftsman, DieHard and Lands' End brands together -- among the most trusted and preferred brands in the U.S. The company is the largest provider of product repair services with more than 14 million service calls made annually.
SOURCE: Sears, Roebuck and Co.
CONTACT: Media, Edgar P. McDougal, +1-847-286-9669, or Investor,
Scott A. Bohaboy, +1-847-286-7419, both of Sears, Roebuck and Co.
Web site: http://www.sears.com/