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KMART CORPORATION ANNOUNCES RECORD 1992 SALES AND OPERATING INCOME AT BUILDERS SQUARE

 TROY, Mich., March 2, 1993 /PRNewswire/ -- Kmart Corporation
 (NYSE: KM) today announced record 1992 sales and operating income
 for its Builders Square subsidiary.
 For the 1992 year ended January 27, 1993, Builders Square operating
 income increased 8.6% to $81 million from $74 million in 1991,
 despite an increase in pre-opening costs to $13 million in 1992 from
 $7 million in the previous year and substantially higher LIFO
 charges. Were it not for the higher pre-opening costs and LIFO, the
 profit gain would have been approximately 30%. Operating income
 included goodwill amortization of $1 million in 1992 and $2 million
 in 1991. Sales for the full year reached $2.42 billion, an increase
 of 18.1% over the $2.05 billion for the year ended January 29, 1992.
 Comparable store sales increased 8.5% over the same period.
 "The 1992 year was a continuation of the positive trend for Builders
 Square," said Frank G. Felicella, president and chief executive
 officer of Builders Square. "We are extremely excited about the
 results from our eight new Builders Square II stores, as well as our
 improvements in customer service. The planned opening of 33 new
 Builders Square II stores in 1993, the conversion of 18 Builders
 Square stores into the new prototype in the coming year and
 continued emphasis on customer service should result in further
 improvement in sales and operating income in the year ahead."
 Builders Square, a wholly owned subsidiary of Kmart Corporation,
 operates 165 Builders Square stores in 29 states. Kmart Corporation
 serves America with over 4,000 retail outlets in all 50 states in
 the United States and in Puerto Rico, Canada, the Czech Republic and
 Slovakia. Kmart, currently operating 2,409 Kmart stores, is also
 the parent company for PACE Membership Warehouse, PayLess Drug
 Stores, Waldenbooks, The Sports Authority, OfficeMax and Borders.
 Kmart Corporation's stock is listed on the New York, Pacific and
 Midwest Stock Exchanges. Its trading symbol is KM.
 -0- 3/2/93
 /CONTACT: Orren F. Knauer or Lois M. Connelly of Kmart Investor Relations, 313-643-1040; or Frank G. Felicella, President & Chief Executive Officer, Builders Square, 512-616-8650/
 (KM)


CO: Kmart Corporation; Builders Square ST: Michigan, Texas IN: REA SU: ERN

ML -- DE008 -- 7989 03/02/93 09:25 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 2, 1993
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