Sears Holdings Reports SSS -1.8%
Sears Holdings Corporation (NASDAQ: SHLD) today is providing an update on our quarter-to-date performance, financial position and progress against our strategic priorities as we continue our transformation to an integrated retailer.
Comparable store sales for the nine-week ("QTD") and year-to-date ("YTD") periods ended December 29, 2012 for its Sears Domestic and Kmart stores are were 1.8% and 2.6% respectively.
Total domestic comparable store sales for the nine-week period declined 1.8% largely due to sales declines in the consumer electronics category at both Sears and Kmart. Excluding the consumer electronics category, total comparable stores sales decreased 0.2%, with Sears Domestic increasing 2.4% and Kmart decreasing 2.4%.
Sears Domestic generated a quarter-to-date comparable store sales increase despite the decline in consumer electronics. The improvement at Sears Domestic was driven by the apparel and appliance categories. The apparel category is on track for six consecutive quarters of comparable store sales increases. Kmart's quarter-to-date comparable store sales decline reflects a significant decline in consumer electronics, as well as declines in the pharmacy, grocery & household and drug categories. The decline in pharmacy