Appliance retailer Sears, Roebuck and Co. announced that comparable U.S. store revenues decreased 1.8 percent for the 4-week period ended May 1, 2004.
Total U.S. store revenues were $1.94 billion for the 4-week period, down 2.8 percent compared with the 4 weeks ended May 3, 2003. Year-to-date store sales totaled $6.05 billion, down 0.2 percent from the same period last year.
"Our Home Group's positive sales momentum continued, as we recorded strong revenue increases in home appliances and consumer electronics in April," said Sears chairman and CEO Alan J. Lacy. "A number of factors contributed to unsatisfactory apparel sales during the month, including one fewer week of pre-Easter holiday sales in April 2004, versus the comparable month a year ago."
The retailer said most off-the-mall formats posted comparable store sales growth in April, paced by Orchard Supply Hardware and The Great Indoors.
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