Sears May Same-Store Sales Dip 1.9%

Sears, Roebuck and Co. announced that comparable domestic store revenues decreased 1.9 percent for the four weeks ended May 31, 2003. Total domestic store revenues were $2.18 billion in May 2003, compared with $2.21 billion for the four weeks ended June 1, 2002.

“We are pleased with the strong showing by our home appliance and lawn and garden businesses, which drove sales results that exceeded our expectations,” said Chairman and CEO Alan J. Lacy. “Additionally, women’s apparel continues to show improving trends.”

    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
                        May 31,             June 1,           All      Comp
                          2003                2002          Stores   Stores**
    May              $2,179,400,000      $2,208,900,000      -1.3%    -1.9%
    Year-to-Date*    $8,323,000,000      $8,732,800,000      -4.7%    -5.5%