Sears Reports March Comparable Store Sales

Sears, Roebuck and Co. (NYSE: S) announced today that comparable domestic store revenues increased 0.1 percent for the five weeks ended April 3, 2004. Total domestic store revenues were $2.37 billion for the five-week period in March 2004, down 1.3 percent compared with the five weeks ended April 5, 2003.

"March results were mixed, with comparable store sales increases in important categories such as consumer electronics, lawn and garden products, fitness equipment, tools, home fashions and men's apparel offset by declines in women's apparel and home appliances," said Sears Chairman and CEO Alan J. Lacy.

Among off-the-mall units, Sears Hardware Stores and Orchard Supply Hardware combined to record a sales increase for the month, which was offset by a revenue decrease reported by Dealer Stores.

  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
                      April 3,       April 5,         All          Comp
                       2004           2003          Stores        Stores**
  March          $2,370,500,000   $2,400,800,000     -1.3%         0.1%
  Year-to-Date*  $4,112,500,000   $4,150,700,000     -0.9%         0.5%

The company has made available by phone a recorded message on sales performance of its domestic stores for March, as well as the company's forecasted comparable store sales for the 2004 second quarter. The message can be heard by calling (847) 286-6111 and will be available for approximately one week. The forecasted comparable store sales for the 2004 second quarter in the recording 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; Sears' ability to integrate and operate Lands' End successfully; Sears' ability to successfully integrate its retail business with a third-party credit card program, which involves training and the integration of complex systems and processes; 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.

About Sears

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,, 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.

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