Sears Revenue Slips to $2.2 Billion

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Sears, Roebuck and Co., Hoffman Estates, IL, said yesterday that comparable domestic store revenue fell 1.9 percent in the four weeks ended May 31.


Also, total domestic store revenue was $2.18 billion in May compared with $2.21 billion in the four weeks ended June 1, 2002.


In other news:


· J.C. Penney, Plano, TX, reported a 3.2 percent rise in comparable department store sales for the four weeks ended May 24. Catalog sales were up 0.6 percent, due largely to Internet sales increasing more than 50 percent. Catalog sales totaled $179 million, up from $178 million in the four weeks ended May 25, 2002.


· Federated Department Stores Inc., Cincinnati, posted total sales of $1.14 billion in the four weeks ended May 31, a drop of 1.2 percent from $1.15 billion in the same period a year ago. On a same-store basis, April sales fell 0.8 percent. Year-to-date sales reached $4.43 billion, down 3.8 percent from $4.6 billion in the same period last year. On a same-store basis, year-to-date sales dropped 4 percent.


· Limited Brands, Columbus, OH, achieved a comparable-store sales increase of 1 percent for the four weeks ended May 31 versus the four weeks ended June 1, 2002. Net sales were $618.1 million compared with $599.4 million a year ago. The company also reported a comparable-store sales drop of 1 percent in the 17 weeks ended May 31. Net sales were $2.46 billion, an increase of 3 percent compared with sales of $2.4 billion last year.


· Sharper Image Corp., San Francisco, said that in May total company sales rose 28 percent to $45 million from last year's $35.2 million. Total store sales were up 31 percent to $25.9 million from $19.8 million last May as comparable-store sales climbed 19 percent. Total catalog sales were up 16 percent to $12.4 million from last May's $10.7 million. Internet sales increased 39 percent to $6.6 million from last May's $4.8 million.


In the four months ended May 31, total company sales rose 28 percent to $162 million. Total store sales increased 31 percent to $91.7 million from $69.8 million in the previous year. Comparable-store sales were up 19 percent. Catalog sales increased 16 percent to $46.7 million from last year's $40.3 million. Internet sales skyrocketed 41 percent to $23.5 million from last year's $16.7 million.


· The Talbots Inc., Hingham, MA, said total company sales in the four weeks ended May 31 were $115.9 million, up from $114.1 million in the four weeks ended June 1, 2002. Comparable-store sales fell 5 percent. Year-to-date sales for the 17 weeks ended May 31 rose 1 percent to $510.9 million from $505.4 million in the 17 weeks ended June 1, 2002, as comparable-store sales fell 4.4 percent.


· Chico's FAS Inc., Fort Myers, FL, said May sales in the four weeks ended May 31 increased 36 percent to $59.8 million from $44 million in the four-week period ended June 1, 2002. Comparable-store sales for company-owned stores rose 11.7 percent in the four weeks ended May 31 versus the same four-week period a year ago.


In the 17 weeks ended May 31, total sales skyrocketed 31.2 percent to $228.8 million from $174.5 million in the 17 weeks ended June 1, 2002. Comparable-store sales for company-owned stores were up 8.8 percent in the 17-week period compared with the same 17-week period last year.


· Cataloger and online retailer United Retail Group Inc., Rochelle Park, NJ, said sales totaled $36.9 million in May compared with $41.4 million in May 2002. Comparable-store sales fell 9 percent for the month. Year-to-date total sales dropped to $138.5 million from $157 million in the same period a year ago as comparable-store sales dipped 11 percent.


· Nordstrom Inc., Seattle, posted preliminary sales of $449 million in the four weeks ending May 31, up 8.5 percent from $414 million in the four weeks ending June 1, 2002. Same-store sales rose 3.4 percent. Preliminary year-to-date (February through May) sales of $1.77 billion increased 4.7 percent from last year. Year-to-date same-store sales dropped 0.2 percent.


· Abercrombie & Fitch, New Albany, OH, posted net sales of $93.1 million in the four weeks ended May 31, up 9 percent over last year's May sales of $85.2 million. May comparable-store sales fell 7 percent. Year-to-date the company reported a net sales increase of 11 percent to $439.8 million despite a drop in comparable-store sales of 6 percent.


· Jos. A. Bank Clothiers Inc., Hampstead, MD, said total sales for the fiscal month ended May 31 were up 17.6 percent versus May 2002 to a record $21.4 million. Comparable-store sales rose 4.8 percent as combined catalog and Internet sales were up 15.9 percent in May. Total sales for the four months ended May 31 increased 13.1 percent to $83.7 million from $74 million in the comparable period last year. Comparable-store sales increased 1.7 percent as combined catalog and Internet sales rose 15.8 percent for the four months ended May 31.


· The Bombay Company Inc., Fort Worth, TX, said Wednesday that same-store sales for stores open more than one year increased 22 percent in the four weeks ended May 31. Total revenue rose 24 percent to $39.5 million from $31.9 million in the four weeks ended June 1, 2002. In the 17 weeks ended May 31, same-store sales increased 24 percent as total revenue climbed 29 percent to $158.6 million from last year's $122.7 million.


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