Sears October Comps Decline 2.7%

Sears, Roebuck and Co. comparable domestic store revenues decreased 2.7 percent for the four weeks ended Nov. 1, 2003. Total domestic store revenues were $1.9 billion for the four-week period in October 2003, down 2.2 percent compared with the four weeks ended Nov. 2, 2002.

“Unseasonably warm weather in most of the country during October slowed demand for seasonal items and contributed to a disappointing month across our apparel categories,” said Sears Chairman and CEO Alan J. Lacy. “However, we sustained our sales momentum in home appliances during October and the lawn & garden and fitness categories had another month of strong revenue growth.”

Among off-mall formats, revenue increases in Hardware stores and Dealer stores were more than offset by declines in National Tire & Battery and The Great Indoors.

    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 1,         November 2,        All     Comp
                           2003               2002          Stores  Stores**

    October             $1,896,200,000    $1,939,400,000    -2.2 %   -2.7 %
    Year-to-Date*      $19,304,900,000   $19,632,100,000    -1.7 %   -2.3 %