Sears Down in May

Sears, Roebuck and Co. (Hoffman Estates, Ill.) has announced a 3.7 percent decrease in comparable domestic store revenues for the four weeks ended May 29, 2004.

Total domestic store revenues were down 4.7 percent.

“The shift of Memorial Day to the June sales month from May in 2003, combined with a slackening in consumer demand across most categories, contributed to results below our expectations,” said chairman and ceo Alan Lacy. “We continue to take significant steps to improve the shopability of our stores, including a systematic resetting of seven major departments this year. In May, we substantially upgraded our home fashions presentation, with better merchandise and fixturing in 300 stores.”