Sears June Comparable Store Sales Decrease 3.8 Percent
Sears, Roebuck and Co. today announced total domestic store revenues for the five weeks ended July 6, 2002 were $2.8 billion, a 1.6 percent decrease compared with the five weeks ended July 7, 2001. Comparable domestic store revenues decreased 3.8 percent.
"While revenues are lower, we continue to be pleased with the progress we are making on our repositioning and restructuring initiatives," said Chairman and Chief Executive Officer Alan J. Lacy. "In particular, our focus on gross margins and productivity improvements continue to contribute to improved profitability."
Dealer and Sears Hardware store formats continue to perform well with mid- and low-single digit sales increases, respectively, in the month of June. In full-line stores, strong sales in appliances and solid increases in lawn and garden were offset by decreases across other categories.
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, http://www.sears.com/. In June 2002, Sears acquired Lands' End, a direct merchant of traditionally styled, classic Lands' End clothing offered to customers around the world through regular mailings of its specialty catalogs and online at http://www.landsend.com/. The company makes available by phone a recorded message on sales performance of its domestic stores. The message is updated weekly and can be heard by calling (847) 286-6111.
Sears, Roebuck and Co.
5 Weeks 22 Weeks
2002 Domestic Store Revenues $2,760,200,000 $11,698,000,000
Ended July 6, 2002
2001 Domestic Store Revenues 2,804,700,000 11,845,900,000
Ended July 7, 2001
Percent Change -1.6% -1.2%
Comparable Domestic Stores Percent Change -3.8% -3.8%
SOURCE: Sears, Roebuck and Co.
CONTACT: Peggy A. Palter, +1-847-286-8361, or Investor Relations, Pam
White, +1-847-286-1468, both of Sears