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KMART CORPORATION EXPECTS TO REPORT LOWER 1993 FIRST-QUARTER EARNINGS

 TROY, Mich., April 20, 1993 /PRNewswire/ -- Kmart Corporation
 (NYSE: KM) today announced that it expects its earnings for the
 quarter ending April 28, 1993 will be below the $0.26 per share
 earned in the first quarter of 1992.
 "While sales have improved in April from the below-plan results of
 the two previous months, which was caused by severe winter weather,
 the recovery has not been sufficient to offset the profit shortfall
 in February and March," said Joseph E. Antonini, Kmart chairman of
 the board and chief executive officer. "The cooler-than-normal
 temperatures throughout much of the country have continued to
 adversely affect sales in the high gross margin apparel and
 horticulture departments. The adverse weather conditions affected
 not only the sales and earnings of the discount stores but the
 results of the specialty store group as well."
 "The profit shortfall in the first quarter, while disappointing,
 does not alter our expectation of higher earnings for all of 1993
 since the period is a relatively small contributor to full-year
 results," said Antonini. "Our business will be influenced
 importantly by the strength of consumer spending and weather
 patterns which, hopefully, will be more seasonable during the
 remainder of the year."
 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 2,408 Kmart
 stores, is also the parent company for PACE Membership Warehouse,
 Builders Square, 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- 4/20/93
 /CONTACT: Orren F. Knauer or Lois M. Connelly, Investor Relations, Kmart Corporation, 313-643-1040/
 (KM)


CO: Kmart Corporation ST: Michigan IN: REA SU: ERP

ML -- DE003 -- 7799 04/20/93 08:44 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
Words:309
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