Smarting from decreases in domestic store revenues, Sears held a candle in its fitness departments. In the last month, it was one of the few departments that had a positive performance -- showing a low single-digit increase in sales.
Total domestic store revenues for the four weeks ended Feb. 1 were $1.6 billion, a 6.3-percent decrease compared with the four weeks ended a year earlier. Comparable domestic store revenues decreased 8.0 percent. "January comparable sales results were within our first quarter plan of a mid-single digit percentage decline," said Chairman and CEO Officer Alan J. Lacy. For details, go to www.sears.com.
SNEWS View: January is the season for New Year's Resolution buys and Sears is one place that the average consumer visits. Nevertheless, this once again underscores that fitness may not feel the economic pinch quite as much as other categories in sporting goods and recreation.