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BUILDERS SQUARE ANNOUNCES RECORD FIRST QUARTER 1992 SALES AND OPERATING INCOME

 BUILDERS SQUARE ANNOUNCES RECORD FIRST QUARTER
 1992 SALES AND OPERATING INCOME
 SAN ANTONIO, June 4 /PRNewswire/ -- Builders Square, Inc., a national chain of warehouse-style home improvement centers and a wholly owned subsidiary of Kmart Corp., achieved record first quarter 1992 sales and operating income, it was announced today by Glen R. Mielke, president and chief executive officer of the company.
 For the 13-week period ended April 29, 1992, Builders Square's operating income increased by 29 percent to $15 million from $12 million for the same period in fiscal year 1991. Sales for the period were $558 million, an increase of 14 percent from $488 million in the prior year. For the first quarter 1992, comparable store sales increased 8.6 percent.
 "Our excellent performance in the first quarter builds on our success in 1991, and reinforces our strong standing in the warehouse home improvement industry," said Mielke. "The favorable variance and large improvement in comparable store sales is due to several factors, including the expansion of installed and commercial sales, an emphasis on project selling, the milder climate in February and March, and the negative impact the Gulf War had on sales in February and March of the prior year."
 Mielke went on to say, "We are encouraged by the success of the seven new stores we opened during the first quarter, and we are ahead of schedule for our goal of 21 store openings in 1992."
 Based in San Antonio, Builders Square operates more than 150 stores in 28 states. Its parent company, Kmart Corp., serves America with more than 4,000 retail outlets in all 50 states in the United States and in Puerto Rico and Canada. Kmart currently operates 2,379 Kmart stores, and is the parent company for PACE Membership Warehouse, the Sports Authority, Pay Less Drug Stores, Waldenbooks and OfficeMax.
 -0- 6/4/92
 /CONTACT: Rick Meiser of Builders Square, 512-616-8700, or Lisa Vallee of Anthony M. Franco, Inc., 212-644-1100, for Builders Square/ CO: Builders Square Inc. ST: Texas IN: REA SU: ERN


SM-CK -- NY028 -- 6965 06/04/92 10:27 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
Words:347
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