SEARS OCTOBER REVENUES RISE 13.9 PERCENT
HOFFMAN ESTATES, Ill. -- Sears Merchandise Group said its total domestic store sales from continuing operations for the four weeks ended Oct. 30 were $1.82 billion, 13.9 percent above restated sales of $1.60 billion in the same period last year. Comparable domestic store sales were 12.7 percent higher for the period. Sears Merchandise Group Chairman and Chief Executive Officer Arthur C. Martinez said, ``We are gratified with the continued momentum of strong sales increases in October, which were experienced across the board. Brand Central, all apparel lines, and tires were particularly strong performers.'' For the four weeks ended Oct. 30, Sears Merchandise Group reported gross revenues from continuing operations of $2.38 billion, 10.2 percent above the $2.16 billion in the same period of 1992. Continuing operations exclude results from selected home improvement services, which Sears no longer sells directly, and results from Sears Business Centers, which have been sold. Excluded from continuing operations are gross revenues from catalog sales (except direct response) and sales from Pinstripes Petites stores, which have been closed. For the 39 weeks ended Oct. 30, Sears Merchandise Group reported gross revenues from continuing operations of $21.71 billion, 6.5 percent above the $20.39 billion in the same period of 1992.
Earlier this week Sears opened an 84,000-square-foot store in Presque Isle, Maine. It replaces a smaller store opened in 1947. The mall was developed by Oneida Ontario Co., Inc. During October Sears opened two retail stores, a 147,000- square-foot store in Alpharetta, Ga., north of Atlanta, and a 128,000-square-foot store in Beavercreek, Ohio, east of Dayton. The Alpharetta store is Sears seventh in Atlanta and is in the new Northpoint Mall developed by Homart Development Co. The Beavercreek store is in the new Fairfield Mall developed by the Glimcher Company. The store is Sears fourth in the area. Sears Merchandise Group 4 Weeks 39 Weeks 1993 Continuing Operations $ 2,377,703,000 21,712,837,000 1992 (Restated) 2,156,784,000 20,389,438,000 Change 220,919,000 1,323,399,000 Percent Change 10.2 6.5 Comparable Domestic Stores Percent Change 12.7 8.5 -0- 11/4/93 /CONTACT: Gordon L. Jones, Sears, 708-286-4726/
CO: Sears Merchandise Group ST: Illinois IN: REA SU:
DH -- NY024 -- 0553 11/04/93 09:16 EST