Sears Domestic Store Comps Down 3.6% in November

Sears, Roebuck and Co. announced that comparable domestic store revenues decreased 3.6 percent for the four weeks ended Nov. 29, 2003. Total domestic store revenues were $2.5 billion for the four-week period in November 2003, down 3.2 percent compared with the four weeks ended Nov. 30, 2002.

“Overall, November results were below expectations and we are disappointed
that the results weren't stronger,” said Sears Chairman and CEO Alan J. Lacy.
“While we are pleased that customers have responded very well to many of our
holiday gift offerings in categories such as tools, toys and digital consumer
electronics, overall spending at the beginning of the season has been more
subdued than expected with our balance of promotional activity greater than
anticipated.”

For the month, major home appliance revenues were up modestly, while the
lawn and garden business continued its strong performance. Sears Dealer
stores and Orchard Supply Hardware reported sales increases in November.

     SEARS/Add One
     Sears, Roebuck and Co.
     Domestic Store Revenues & Comparable Store Revenues
     (*According to National Retail Federation Fiscal Calendar.)
     (**A store is considered to be comparable at the beginning of the 13th
      month after the store is opened.)
                        Fiscal Period Ending                Percent Change
                    November 29,     November 30,         All          Comp
                        2003             2002            Stores       Stores**
     November       $2,464,700,000   $2,546,400,000       -3.2%         -3.6%
     Year-to-Date* $21,769,600,000  $22,178,500,000       -1.8%         -2.4%