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KMART CORPORATION ANNOUNCES RECORD 1992 SALES AND OPERATING INCOME AT WALDENBOOKS

 TROY, Mich., March 2, 1993 /PRNewswire/ -- Kmart Corporation
 (NYSE: KM) today announced record 1992 sales and operating income
 for its Waldenbooks subsidiary.
 For the 1992 year ended January 27, 1993, Waldenbooks' operating
 income increased 13.3% to $43 million from $38 million in 1991.
 Operating income included goodwill amortization of $2 million in
 1992 and 1991. Sales for the full year reached $1.15 billion, an
 increase of 0.6% over the $1.14 billion for the year ended
 January 29, 1992. Comparable store sales increased 1.4% over the
 same period.
 "Waldenbooks achieved continued strong growth in operating income in
 1992 as a result of an improved gross margin and excellent control
 over expenses," said Charles R. Cumello, president and chief
 executive officer of Waldenbooks. "The improvement was realized
 despite relatively weak customer traffic in malls and growing
 competition from the book superstore segment of the industry."
 "In the coming year, we will continue to refine our merchandise mix
 in order to better serve our core mall customers," said Cumello.
 "In addition, we expect to finalize plans for our new larger mall
 store format."
 Waldenbooks, a wholly owned subsidiary of Kmart Corporation,
 operates 1,260 Waldenbooks, Brentanos and Waldenbook Superstores in
 50 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, Builders Square, PayLess Drug Stores, 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 Charles R. Cumello, President & Chief Executive Officer, Waldenbooks, 203-352-2703/
 (KM)


CO: Kmart Corporation; Waldenbooks ST: Michigan, Connecticut IN: REA SU: ERN

SB -- DE013 -- 1822 03/02/93 09:45 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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Date:Mar 2, 1993
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