Sears, Roebuck and Co. announced that comparable domestic store revenues decreased 9.4 percent for the four weeks ended March 1. Total domestic store revenues were $1.7 billion; a 7.9 percent decrease compared with the four weeks ended March 2, 2002.
“Severe winter weather on the East Coast over President’s Day weekend forced closure of approximately 130 stores and key distribution centers, which negatively impacted sales,” said Chairman and Chief Executive Officer Alan J. Lacy. “Our revenues also reflect a shift in promotional activities away from February and into March, as well as the continuing effect of certain category exits during the past year.”
Full-line store sales included double-digit percentage growth in fine jewelry and high-single digit percentage growth in footwear, while specialty stores recorded a mid- single digit decrease.
