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KMART CORPORATION REPORTS NOVEMBER SALES INCREASE

 KMART CORPORATION REPORTS NOVEMBER SALES INCREASE
 TROY, Mich., Dec. 5 /PRNewswire/ -- Kmart Corporation (NYSE: KM)


today reported a sales increase of 3.2 percent for November 1991 over sales during the same period of last year. Consolidated sales for the four-week period ended Nov. 27, 1991 amounted to $2,967,414,000, versus sales of $2,874,524,000 for the four weeks ended Nov. 28, 1990.
 Sales for the 43 weeks ended Nov. 27, 1991, were $26,985,648,000, up 7.1 percent from the $25,197,002,000 for the first 43 weeks of 1990.
 Kmart Chairman of the Board and Chief Executive Officer Joseph E. Antonini said, "Sales in the first three weeks of November ran ahead of year-earlier levels. However, the later Thanksgiving Day in 1991 (Nov. 28. versus Nov. 22 in 1990) resulted in sharply lower sales in the final week of the month. Our November reporting period ended prior to Thanksgiving this year, while last year's period included six days of sales after the holiday."
 Antonini added, "The November 1991 reporting period for most retailers ended Saturday, Nov. 30, compared with a Saturday, Dec. 1 period-end in 1990, and, therefore, included two post-Thanksgiving selling days. Had we been on a similar reporting basis, our sales would have been up 5.2 percent."
 Antonini concluded, "If you factor out the calendar differences and look at Thanksgiving weekend business in 1991 and 1990, we are very encouraged by last weekend's store traffic and sales. Our sales were up nicely over Thanksgiving weekend sales last year."
 Kmart Corporation serves America with over 4,000 retail outlets in all 50 states in the United States and in Puerto Rico and Canada. Kmart, currently operating 2,380 Kmart stores, is also the parent company for Pay Less Drug Stores, Builders Square, Waldenbooks, PACE Membership Warehouse, The Sports Authority and OfficeMax.
 PRELIMINARY REPORT OF
 KMART CORPORATION ESTIMATED CONSOLIDATED SALES
 4 Weeks Ended 11-27-91 43 Weeks Ended 11-27-91
 4 Weeks Ended 11-28-90 43 Weeks Ended 11-28-90
 Fiscal 1991 sales $2,967,414,000 $26,985,648,000
 Fiscal 1990 sales $2,874,524,000 $25,197,002,000
 Dollar difference $92,890,000 $1,788,646,000
 Percentage change (a) 3.2 7.1
 Comparable store
 sales gain (decline) (a) (2.1 pct.) 2.9 pct.
 (a) -- The 4-week periods for most retailers ended 11-30-91 and 12-01-90. Had Kmart been on a similar reporting basis, total sales would have been up 5.2 percent and comparable store sales would have increased 0.6 percent.
 Kmart Corporation's stock is listed on the New York, Pacific, Midwest and Tokyo stock exchanges. Its trading symbol is KM.
 -0- 12/5/91
 /CONTACT: Orren F. Knauer of Kmart Corporation, 313-643-1040/
 (KM) CO: Kmart Corporation ST: Michigan IN: REA SU:


ML -- DE003 -- 9537 12/05/91 09:38 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 5, 1991
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