Sears February Comparable Store Sales Decrease 3.1 Percent
Sears, Roebuck and Co. (NYSE: S) today announced total domestic store revenues for the four weeks ending March 2, 2002 were $1.9 billion, a 1.2 percent decrease compared with the four weeks ending March 3, 2001. Comparable domestic store revenues decreased 3.1 percent.
"While overall sales remain soft, we continue to be very pleased with our inventory position as well as gross margin and expense performance," said Chairman and Chief Executive Officer Alan J. Lacy.
Hardlines sales continued to be strong, led by double-digit sales increases in home appliances and home fitness categories. In addition, home electronics posted solid sales for the month. However, apparel sales continued to be weak with double-digit declines across most merchandise categories. Off-mall formats sales results were led by dealer and hardware stores, which both posted strong sales increases.
Sears, Roebuck and Co. is a leading U.S. retailer of apparel, home and automotive products and services, with annual revenue of more than $40 billion. The company serves families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a wide variety of online offerings accessible through its Web site, http://www.sears.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.
4 Weeks
2002 Domestic Store Revenues $ 1,944,200,000
2001 Domestic Store Revenues 1,968,300,000
Percent Change -1.2%
Comparable Domestic Stores Percent Change -3.1%
SOURCE: Sears, Roebuck and Co.
Contact: Peggy A. Palter of Sears, Roebuck and Co., +1-847-286-8361
Website: http://www.sears.com/