Hoffman Estates, IL, Dec. 5, 2002--Sears, Roebuck and Co., the fourth largest U.S. retailer, on Thursday posted a 10.9% drop in November sales at U.S. stores open at least one year, its 15th straight monthly decline, hurt by a late Thanksgiving.
Sears said total sales for the four-week period ended Nov. 30 reached $2.61 billion, down 8.7 percent from $2.86 billion for the same period a year before. It said it expects December same-store sales to be down in the mid single digits on a percentage basis.
Thanksgiving fell on Nov. 28 this year, six days later than it did last year, leaving fewer holiday shopping days in November. Analysts have said they would look at retailers' November and December results together when gauging holiday sales performance.
