Sears Reports September Comparable Store Sales
Sears, Roebuck and Co. (NYSE: S) announced today that comparable domestic store revenues increased 3.2 percent for the five weeks ended Oct. 4, 2003. Total domestic store revenues were $2.5 billion for the five week period in September 2003, up 3.5 percent compared with the five weeks ended Oct. 5, 2002.
"Women's ready-to-wear and men's apparel posted significant gains, driven by strong performances by the Lands' End and Covington brands," said Chairman and CEO Alan J. Lacy. "The lawn and garden, fitness and footwear businesses continued to be strong, while home appliances also showed a solid increase for the month."
September revenues also included a high-single digit increase in revenues from Sears Hardware stores, as well as a mid-single digit increase in 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 October 4, October 5, All Comp 2003 2002 Stores Stores** September $2,453,300,000 $2,369,700,000 3.5% 3.2% Year-to-Date* $17,408,700,000 $17,692,700,000 -1.6% -2.2%
The company has made available by phone a recorded message on sales performance of its domestic stores for September, as well as the company's forecasted results for October 2003. The message can be heard by calling (847) 286-6111 and will be available for approximately one week.
The forecasted results in the recording for October 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.
Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2002, the company's revenue was $41.4 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 sites, sears.com and landsend.com, and a variety of specialty catalogs.
SOURCE: Sears, Roebuck and Co.
CONTACT: News Media, Edgar P. McDougal, +1-847-286-9669, or Investor,
Pam White, +1-847-286-1468, both of Sears, Roebuck and Co.
Web site: http://www.sears.com/