July Comps Slip 0.8% at Sears

Sears, Roebuck and Co. announced that comparable domestic store revenues decreased 0.8 % for the four weeks ended Aug. 2, 2003. Total domestic store revenues were $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.”

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.

      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
                         August 2,       August 3,   All Stores  Comp Stores**
                           2003           2002
    July              $1,917,600,000   $1,923,100,000    -0.3%      -0.8%
    Year-to-Date*    $12,904,500,000  $13,352,500,000    -3.4%      -4.1%