KMART CORPORATION REPORTS OCTOBER SALES INCREASE
KMART CORPORATION REPORTS OCTOBER SALES INCREASE TROY, Mich., Nov. 7 /PRNewswire/ -- Kmart Corporation (NYSE: KM)
today reported a sales increase of 6.0 percent for October 1991 over sales during the same period of last year. Consolidated sales for the four-week period ended Oct. 30, 1991, amounted to $2,482,513,000, vs. sales of $2,341,635,000 for the four weeks ended Oct. 31, 1990.
Sales for the 39 weeks ended Oct. 30, 1991, were $24,018,234,000, up 7.6 percent from the $22,322,478,000 for the first 39 weeks of 1990. Kmart Chairman of the Board and Chief Executive Officer Joseph E. Antonini said, "The sales pattern in October was very similar to that in September, with sales of basic commodity categories of merchandise and pharmacy products generally good but with sales lower in electronics and other big-ticket categories, that weakness reflecting consumer caution stemming from a still-weak economic environment. Our specialty store businesses continue to achieve strong comparable store sales gains." 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 2,356 Kmart stores, is also the parent company for Pay Less Drug Stores, Builders Square, Waldenbooks, PACE Membership Warehouse and The Sports Authority. Kmart Corporation's stock is listed on the New York, Pacific, Midwest and Tokyo stock exchanges. Its trading symbol is KM. PRELIMINARY REPORT OF KMART CORPORATION ESTIMATED CONSOLIDATED SALES 4 Weeks Ended 10/30/91 13 Weeks Ended 10/30/91 4 Weeks Ended 10/31/90 13 Weeks Ended 10/31/90 Fiscal 1991 sales $2,482,513,000 $7,971,382,000 Fiscal 1990 sales $2,341,635,000 $7,493,272,000 Dollar difference $140,878,000 $478,110,000 Percentage change 6.0 6.4 Comparable store sales gain 1.7 2.0 39 Weeks Ended 10/30/91 39 Weeks Ended 10/31/90 Fiscal 1991 sales $24,018,234,000 Fiscal 1990 sales $22,322,478,000 Dollar difference $1,695,756,000 Percentage change 7.6 Comparable store sales gain 3.6 -0- 11/7/91 /CONTACT: Orren F. Knauer of Kmart, 313-643-1040/ (KM) CO: Kmart Corporation ST: Michigan IN: REA SU: ML -- DE005 -- 2085 11/07/91 09:40 EST
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|Date:||Nov 7, 1991|
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