Sears, Roebuck and Co. (NYSE: S) announced today that comparable domestic store revenues increased 1.1 percent for the four weeks ended Feb. 28, 2004. Total domestic store revenues were $1.7 billion for the four-week period in February 2004, down 0.5 percent, compared with the four weeks ended March 1, 2003.
"Comparable store sales grew for the month, paced by strong sales of lawn and garden products, as well as healthy gains in power tools, garage storage products and fitness equipment," said Sears Chairman and CEO Alan J. Lacy. "Home appliance revenues improved slightly, led by solid increases in the cooking, cleaning and laundry categories. Sales rose in women's ready-to-wear and men's apparel, fueled by promotional and clearance activity and the positive impact of Lands' End merchandise in all of our full-line stores."
Off-the-mall revenues were down in February, as strong performances by Sears Hardware and Sears Outlet stores were more than offset by declining sales in the company's other specialty store formats.
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 February 28, March 1, All Comp 2004 2003 Stores Stores** February $1,741,900,000 $1,750,000,000 -0.5% 1.1% Year-to-Date* $1,741,900,000 $1,750,000,000 -0.5% 1.1%
The company has made available by phone a recorded message on sales performance of its domestic stores for February 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 services calls made annually.
SOURCE: Sears, Roebuck and Co.
CONTACT: News 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/