P.M. BRIEFING : Big Retailers Report Mixed March Sales; Sears Posts 11.9% Increase

The nation’s big retailers today reported mixed March sales, with giant Sears, which introduced a new competitive pricing policy during the month, posting an 11.9% increase from the same period a year ago.

March sales suffered somewhat because Easter occurred earlier this year than in 1988. The holiday meant that doors were closed at general merchandisers and clothing retailers.

Michael Bozic, chairman and chief executive officer of Sears Merchandise Group, said March sales surpassed expectations and benefited from the aggressive promotion of the pricing program. Sales totaled $2.97 billion, up from $2.66 billion.

K mart, the second-largest U.S. retailer, said sales in the five weeks ended March 29 totaled $2.42 billion, up 2.5% from $2.36 billion a year earlier. J. C. Penney Co. Inc. said sales amounted to $1.233 billion in the five weeks to April 1, up 0.7% from $1.225 billion a year earlier.