ShopKo Stores reported consolidated sales for the five weeks ended January 1, 2005 decreased 5.5 percent to $440.7 million from $466.5 million during the same period last year. Consolidated comparable store sales decreased 5.3 percent. Although December sales were below expectations, the company experienced improved gross margin rates.
Sales Summary by Business Segment (dollars in millions) Retail Segments Period Ended % Change 5 Weeks: 1/1/05 Total** Comp* ShopKo $336.0 (6.7)% (6.3)% Pamida 104.7 (1.7) (1.7) Total Retail $440.7 (5.5)% (5.3)% 48 Weeks: ShopKo $2,211.6 (1.0)% (0.7)% Pamida 758.9 1.0 1.0 Total Retail $2,970.5 (0.5)% (0.3)% * Comparable store sales represent sales of those stores open during both fiscal years and do not include sales from the ShopKo wholesale optical lab. ** ShopKo division total sales variance reflects sales from one closed ShopKo location in fiscal 2004 and one new ShopKo Express location. Pamida division total sales variance reflects sales in the prior year periods from seven locations which have been closed and not replaced, and two new Pamida locations opened in fiscal 2003. Sales variance also reflects sales from five closed Pamida locations and seven new locations in fiscal 2004.
Consolidated comparable store sales for the month of January are expected to be in the negative low single digit range.