Sears makes good on shoe sales figures. (Sears, Roebuck and Co. Sears Merchandise Group)

Footwear News, September, 1993 by Rooney, Ellen

Predictions made by Sears, Roebuck and Co's Sears Merchandise Group (Sears) executives of an increase in the company's shoe sales for 1993 have come true. Industry observers had derided the forecast as optimistic in view of the slow economy and the company's tenuous market position. However, statistics show that Sears has in fact met its sales targets, and has successfully engineered a turnaround. Company officials have attributed Sears' strong performance to increased cash investment in marketing, inventory and payroll.

HOFFMAN ESTATES, III. -- Eight months ago, when the economy was still floundering and shoppers were scarce, executives at Sears Merchandising Group predicted an 11-20 percent increase in shoe sales for 1993.

This seemed a somewhat bold forecast by...

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