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Daily News

Sears Reports July Comparable Store Sales
Aug 7, 2003
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Sears, Roebuck and Co. announced that comparable domestic store revenues decreased 0.8 percent for the four weeks ended Aug. 2, 2003. Total domestic store revenues were U.S. $1.9 billion in July 2003, down slightly compared with the four weeks ended Aug. 3, 2002.

"We were pleased with July sales, which were in line with expectations and featured strong apparel performance across men's, women's, and kids' categories, led by our Lands' End and Covington brands," said chairman and CEO Alan J. Lacy. "We were also pleased to see higher major appliance revenues, despite cooler weather that hurt air-conditioning sales."

According to the company, off-mall revenues were slightly below prior year, with low single-digit increases in both hardware stores and dealer stores offset by a mid single-digit decrease in The Great Indoors. Lawn and garden, particularly riding mowers, tractors, and patio furniture, continued to show strength across all formats, said the company.

The company has made available by phone a recorded message on sales performance of its domestic stores for July, as well as the company's forecasted results for August 2003. The message can be heard by calling 847/286-6111 and will be available for approximately one week.

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