Appliance retailer Sears, Roebuck and Co. reported that its U.S. comparable store reviews decreased 6.1 percent for the 4-week period ending Aug. 28, 2004. Total U.S. store revenues were U.S. $1.9 billion for the month of August 2004, down 7.1 percent compared with the 4 weeks that ended Aug. 30, 2004.
While the overall specialty store category reported comparable store sales decreases, Sears-affiliated stores The Great Indoors and Orchard Supply Hardware reported sales increases.
Sears Chairman and CEO Alan J. Lacy attributed the decreases in monthly store revenues from this time last year to soft back-to-school sales as one of the factors.
"We anticipated August would be a tough comparison for Sears from 2003, in part because of the absence of tax refunds this year, and the strong performance of our home appliance and lawn and garden businesses at this time last year," Mr. Lacy said. "We continue to look forward to the fall and holiday seasons as our teams improve the customer experience in our stores and enhance our merchandise offerings."
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