Sears December Comparable Store Sales Decrease 4.6 Percent
Sears, Roebuck and Co. (NYSE: S) today announced total domestic store revenues for the five weeks ended January 4, 2003 were $4.1 billion, a 2.6 percent decrease compared with the five weeks ended January 5, 2002. Comparable domestic store revenues decreased 4.6 percent.
"Full-line store sales were in line with our expectations," said Chairman and Chief Executive Officer Alan J. Lacy. "Direct-to-customer performed especially well with Lands' End exceeding our expectations and sears.com revenues more than doubling last year's levels."
Full-line stores had solid performances in footwear, sporting goods and fine jewelry. Off-mall, The Great Indoors and Dealer stores showed mid-single and low-single digit increases, respectively.
About Sears
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, 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 www.landsend.com .
Sears, Roebuck and Co.
5 Weeks 48 Weeks
2002 Domestic Store Revenues
Ended January 4, 2003 $4,070,700,000 $26,795,800,000
2001 Domestic Store Revenues
Ended January 5, 2002 $4,181,100,000 $27,788,000,000
Percent Change -2.6% -3.6%
Comparable Domestic Stores Percent Change -4.6% -6.0%
The company has made available by phone a recorded message on sales performance of its domestic stores for December and the company's forecasted sales results for January 2003. The message can be heard by calling (847) 286-6111 and will be available for approximately one week. The message will not be updated. The forecasted results in the recording for January 2003 represent a "forward looking statement," which is based on assumptions about the future that are subject to risks and uncertainties, such as competitive conditions in retail; changes in consumer confidence and spending; the successful execution of and customer reactions to Sears' Full-line store strategy and other performance improvement initiatives; general economic conditions and normal business uncertainty. While the company believes its forecasts and assumptions are reasonable, it cautions that actual results may differ materially. The company intends these forecasted results to speak only as of the time of this release and does not undertake to update or revise it as more information becomes available.
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.