ShopKo Stores Inc. reported consolidated sales for the five weeks ended October 2, 2004 decreased 1.5% to $262.9 million from $266.8 million during the same period last year. Consolidated comparable store sales decreased 1.2%.
Sales Summary by Business Segment (dollars in millions) Retail Segments Period Ended % Change 5 Weeks: 10/02/04 Total** Comp* ShopKo $192.9 (2.0)% (1.6)% Pamida 70.0 0.2 0.1 Total Retail $262.9 (1.5)% (1.2)% 35 Weeks: ShopKo $1,508.6 1.8% 2.0% Pamida 519.7 1.1 1.4 Total Retail $2,028.3 1.6% 1.9% *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. 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 three closed Pamida locations and five new locations in fiscal 2004.
Consolidated comparable store sales for the month of October are expected to be in the positive low single digit range.
Due to lower than expected sales performance, the company now expects third quarter earnings to be at the low end of the previously provided range of $0.03 to $0.08 per share.