Sears, Others Report Mixed 1984 Sales
More of the nation’s major retailers, including giant Sears, Roebuck & Co., on Thursday reported January and fiscal-year sales results that some analysts said were disappointing because of the unusually cold weather that kept shoppers out of stores.
The sales increases for both the month and year were mixed. However, they were difficult to compare because of the various ways in which retailers were accounting for this year’s 53-week fiscal year compared to last year’s 52-week period.
In an unusual departure from their routine monthly reporting schedules, some retailers had reported results last week for the four weeks ended Jan. 26, while others, such as Sears, Carter Hawley Hale Stores Inc., Associated Dry Goods and others, waited to report five-week January results. Still others reported results for both the four-week and five-week period. Full-year reports also varied.
Most retailers use a fiscal year that ends in January, which this year included five rather than four weeks. A 53-week year occurs for retailers once every six years because they typically operate each year on the basis of 52 weeks with seven days each, or a total of 364 days. As a result, every six years retailers must take into account an additional week in their fiscal results.
Chicago-based Sears, saying that severe weather adversely affected store traffic, reported that sales for the five weeks ended Feb. 2 totaled $1.73 billion, up 1.5% from the comparable year-ago period. Sales for the 53-week period rose 5.3% to $23.7 billion.
Los Angeles-based Carter Hawley Hale Stores Inc., which operates the Broadway, Neiman-Marcus, Bergdorf Goodman and other chains, reported that five-week sales totaled $274.3 million, up 10.5% from the comparable period a year ago. Sales for the 53-week year rose 18.3% to $3.86 billion.
Associated Dry Goods Corp., New York, which operates Robinson’s in Southern California, said five-week sales totaled $257.4 mil lion, versus the four-week January total of $190.4 million last year. On a comparable four-week basis, sales rose 9.6% year-to-year. Sales for the 53-week year, including Loehmann’s since that chain’s acquisition in May, 1983, and excluding last year’s results for Stix, Baer & Fuller, totaled $4.06 billion, compared to last year’s 52-week total of $3.55 billion. The comparable 52-week numbers showed a gain of less than 1%.
New York-based R. H. Macy & Co. said five-week sales in January were $234 million, compared to last year’s four-week total of $190 million. Sales for the 53-week period totaled $4.3 billion, compared to $3.8 billion in the year-ago 52-week period. Excluding the extra week, full-year sales rose 11.1%
Allied Stores Corp., New York, had five-week sales of $234.7 million, compared to $188.3 million for last year’s four-week period. On an equivalent four-week basis, sales rose only 3.3%. Its 53-week sales were $3.9 billion, versus $3.68 billion in the earlier 52-week period.
