Sears May Comparable Store Sales Decrease 4.4 Percent
Sears, Roebuck and Co. (NYSE: S) today announced total domestic store revenues for the four weeks ended June 1, 2002 were $2.3 billion, a 1.5 percent decrease compared with the four weeks ended June 2, 2001. Comparable domestic store revenues decreased 4.4 percent.
"We remain pleased with our profit improvements and inventory position despite the revenue decline," said Chairman and Chief Executive Officer Alan J. Lacy.
Dealer and Sears Hardware store formats performed well in the month of May with high- and mid-single digit sales increases, respectively. Full-line store results were negatively affected by the unseasonably cool weather and experienced a mid-single digit decline 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 17 Weeks
2002 Domestic Store Revenues $2,258,500,000 $8,937,800,000
Ended June 1, 2002
2001 Domestic Store Revenues 2,292,500,000 9,041,200,000
Ended June 2, 2001
Percent Change -1.5% -1.1%
Comparable Domestic Stores Percent Change -4.4% -3.8%
SOURCE: Sears, Roebuck and Co.
CONTACT: Media - Peggy A. Palter, +1-847-286-8361, or Investor
Relations - Pam White, +1-847-286-1468, both of Sears, Roebuck and Co.
Web site: http://www.sears.com/