Broadline retailer Sears gets $30bn of asset in Q1 2005

08 Jun '05

6 min read

Same Store Sales Performance
Comparable store sales and total sales at Kmart decreased 3.7% and 2.3%, respectively, for the 13 weeks ended April 30, 2005 as compared to the 13 weeks ended April 28, 2004. The decline in same-store and total sales is due to lower transaction volumes, the impact of poor weather conditions on the Company's seasonal product lines, and the impact of ongoing construction activity in stores which are converting to the Sears Essentials format.

Total sales benefited from an additional $153 million of sales as a result of three additional days in the current quarter due to the Company's change in fiscal year end from the last Wednesday in January to the Saturday closest to January 31st. However, total sales were negatively impacted by a reduction in the total number of operating Kmart stores, which more than offset the additional three days of revenue.

Merchandise sales and services revenues at Sears Domestic increased 0.5% for the 13-week period ended April 30, 2005 versus the 13 week-period ended May 1, 2004. The slight increase was due to strong home services sales partially offset by a 3.1% decrease in domestic comparable store sales. Within domestic sales, cooler than anticipated weather conditions caused declines in certain seasonal businesses, including lawn and garden and seasonal apparel categories. These declines were partially offset by modest gains within the footwear and automotive categories.

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