Sears comp store sales down 4.6 percent, sporting goods strong

Sears, Roebuck and Co. (NYSE: S) has announced total domestic store revenues for the five weeks ending Jan. 4, 2003, were $4.1 billion, a 2.6-percent decrease compared with the five weeks ending Jan. 5, 2002. Comparable domestic store revenues decreased 4.6 percent. Sporting goods were among strong department performers (also footwear and jewelry) in full-line stores. “Full-line store sales were in line with our expectations,” said Chairman and CEO Alan J. Lacy. “Direct-to-customer performed especially well, with Lands’ End exceeding our expectations and sears.com revenues more than doubling last year’s levels.”