Kmart, Sears Same-Store Sales Drop

HOFFMAN ESTATES, IL-Both chains owned by Sears Holdings Corp. reported preliminary drops in year over year same-store sales during its first quarter, which ends May 5. Kmart posted a 4.7% slide, while Sears store experienced a 2.4% drop.

Executives attribute Kmart’s fall to lower sales transaction volumes, while the Sears dip occurred due to a drop in appliance sales and increased competition, though management says children’s apparel performed well.

The first quarter’s same-store sales results were in contrast to those in the fourth quarter, when Kmart only fell 0.7%, and Sears fell 4.9%. Apparel and pharmacy sales helped Kmart in that period, while Sears suffered setbacks in a number of categories.