Printer Friendly

KMART CORPORATION REPORTS JANUARY SALES INCREASE

 TROY, Mich., February 4, 1993 /PRNewswire/ -- Kmart Corporation
 (NYSE: KM) today reported a sales increase of 10.4% for January 1993
 over sales during the same period of last year. Consolidated sales
 for the four-week period ended January 27, 1993 amounted to
 $2,340,279,000, versus sales of $2,119,272,000 for the four weeks
 ended January 29, 1992.
 Sales for the 52 weeks ended January 27, 1993 were $37,727,296,000,
 up 9.1% from the $34,579,860,000 for the 52-week period ended
 January 29, 1992.
 "Record sales and profits in December, as well as high sell-thru of
 seasonal and apparel merchandise during the Christmas season,
 resulted in fewer clearance sales at markdown prices this January
 than a year ago. This had a favorable impact on our profits," said
 Joseph E. Antonini, Kmart Chairman of the Board and Chief Executive
 Officer.
 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, 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.
 KMART CORPORATION
 SALES BY BUSINESS
 4 Weeks Ended % Change
 All Comparable
 (Millions U.S. $) 1-27-93 1-29-92 Stores Stores
 General Merchandise
 United States $ 1,414 $ 1,399 1.1 (1.0)
 International 81 51 59.4 5.2(b)
 Total General Merchandise 1,495 1,450 3.1 (0.7)
 Specialty Retail
 PACE Membership Warehouse 308 271 14.0 (2.2)
 Builders Square 155 128 21.7 8.2
 PayLess Drug Stores 185 140 31.9 (0.2)
 Waldenbooks 86 81 5.5 3.4
 The Sports Authority 29 18 56.6 8.6
 OfficeMax 70 31 126.3 23.9
 Borders(a) 12 --- ---- 14.4(a)
 Total Specialty Retail 845 669 26.3 2.5(a)
 Total Kmart $ 2,340 $ 2,119 10.4 0.3(a)
 (a) Borders was acquired in November 1992. On a proforma basis,
 total sales increased 46.1% and comparable store sales were up
 14.4%. Excluding Borders, the comparable store sales increases for
 Total Specialty Retail and Total Kmart were 2.3% and 0.3%,
 respectively.
 (b) International Comparable Store Sales Change is calculated on
 sales in the applicable local currency.
 13 Weeks Ended % Change
 All Comparable
 (Millions U.S. $) 1-27-93 1-29-92 Stores Stores
 General Merchandise
 United States $ 7,684 $ 7,515 2.3 0.3
 International 412 343 19.9 5.9(b)
 Total General Merchandise 8,096 7,858 3.0 0.6
 Specialty Retail
 PACE Membership Warehouse 1,283 1,097 16.9 0.7
 Builders Square 552 456 21.0 7.9
 PayLess Drug Stores 745 580 28.5 (1.9)
 Waldenbooks 420 416 0.9 (0.3)
 The Sports Authority 141 91 55.6 5.2
 OfficeMax(a) 192 65 ---- 26.7(a)
 Borders(a) 46 --- ---- 12.6(a)
 Total Specialty Retail 3,379 2,705 24.9 2.3(a)
 Total Kmart $11,475 $10,563 8.6 1.0(a)
 (a) OfficeMax was acquired in November 1991. On a proforma basis,
 total sales increased 131.1% and comparable store sales were up
 26.7%. Borders was acquired in November 1992. On a proforma basis,
 total sales increased 47.4% and comparable store sales were up
 12.6%. Excluding OfficeMax prior to November 22, 1992 and Borders,
 the comparable store sales increases for Total Specialty Retail and
 Total Kmart were 2.0% and 0.9%, respectively.
 (b) International Comparable Store Sales Change is calculated on
 sales in the applicable local currency.
 KMART CORPORATION
 SALES BY BUSINESS
 52 Weeks Ended % Change
 All Comparable
 (Millions U.S. $) 1-27-93 1-29-92 Stores Stores
 General Merchandise
 United States $25,328 $24,488 3.4 1.5
 International 1,143 1,060 7.9 0.7(b)
 Total General Merchandise 26,471 25,548 3.6 1.5
 Specialty Retail
 PACE Membership Warehouse 4,358 3,646 19.5 6.7
 Builders Square 2,419 2,049 18.1 8.5
 PayLess Drug Stores 2,333 1,892 23.3 (0.1)
 Waldenbooks 1,160 1,139 1.8 1.4
 The Sports Authority 412 241 70.8 8.3
 OfficeMax(a) 528 65 ---- 28.5(a)
 Borders(a) 46 --- ---- 12.6(a)
 Total Specialty Retail 11,256 9,032 24.6 5.7(a)
 Total Kmart $37,727 $34,580 9.1 2.6(a)
 (a) OfficeMax was acquired in November 1991. On a proforma basis,
 total sales increased 115.8% and comparable store sales were up
 28.5%. Borders was acquired in November 1992. On a proforma basis,
 total sales increased 47.4% and comparable store sales were up
 12.6%. Excluding OfficeMax prior to November 22, 1992 and Borders,
 the comparable store sales increases for Total Specialty Retail and
 Total Kmart were 5.2% and 2.4%, respectively.
 (b) International Comparable Store Sales Change is calculated on
 sales in the applicable local currency.
 -0- 2/4/93
 /CONTACT: Orren F. Knauer, Director-Investor Relations, Kmart Corporation, 313-643-1040/
 (KM)


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

SB -- DE019 -- 2918 02/04/93 11:07 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.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 4, 1993
Words:885
Previous Article:NEW NATIONAL POLL FINDS: STRONG PUBLIC SUPPORT FOR ROAD/BRIDGE IMPROVEMENT STIMULUS PACKAGE COMPONENT; OPPOSITION TO INCREASING GAS TAX TO RAISE...
Next Article:GENERAL MOTORS ISSUES STATEMENT
Topics:


Related Articles
KMART CORPORATION REPORTS DECEMBER SALES INCREASE
KMART CORPORATION REPORTS FEBRUARY SALES INCREASE
KMART CORPORATION REPORTS SEPTEMBER SALES INCREASE
KMART CORPORATION REPORTS OCTOBER SALES INCREASE
KMART CORPORATION REPORTS OCTOBER SALES INCREASE
KMART CORPORATION ANNOUNCES RECORD 1993 SALES AND OPERATING INCOME AT OFFICEMAX
KMART CORPORATION REPORTS FEBRUARY SALES INCREASE
Kmart Corporation Reports October Sales Results
Kmart Corporation Reports December Sales Results
Kmart Corporation Corrects Underreported International Division Sales Results For December

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters