Operating losses in first quarter

For the first quarter of the year 2003 the US chain Sears disclosed sales of US $ 6.6 bn (€ 6.0 bn) for retail and related services, which was 1.8 per cent down on the same period last year. The decline amounts to 6.7 per cent in comparable terms. The company says that the garden and lawn sector performed especially well, contrary to the general trend.