Sears, Roebuck and Co. (NYSE: S) today announced that its August comparable store sales are tracking better than expected for the four weeks ending Aug. 30, 2003, primarily related to strength in the home appliance category.
On May 28, 2003, Sears announced that during the third quarter the company would begin making major changes in its home appliance business to solidify its industry-leading share of that market. Changes driving improved home appliance sales during July and August include more competitive pricing, an enhanced store shopping experience, significant expansion in the selection of branded appliances consumers can take home today and a comprehensive price- match policy.
This release contains guidance on comparable store sales. These statements are forward-looking statements based on assumptions about the future that are subject to risks and uncertainties, such as: competitive conditions in retail and credit; changes in consumer confidence and spending; the success of the full-line store strategy and other strategies; social and political conditions such as war, political unrest and terrorism or natural disasters; general economic conditions and normal business uncertainty. Actual results may differ materially. The company intends these forward- looking statements to speak only as of the time of this release and does not undertake to update or revise them 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, thegreatindoors.com and landsend.com, and a variety of specialty catalogs.
SOURCE: Sears, Roebuck and Co.
CONTACT: Media, Edgar P. McDougal, +1-847-286-9669, or Investors,
Pam White, +1-847-286-1468, both of Sears, Roebuck and Co.
Web site: http://www.sears.com/