Robert M.
Burton
Divisional Vice President
Investor Relations
(248) 463-1040
KMART CORPORATION REPORTS 3.7% COMPARABLE STORE SALES INCREASE FOR OCTOBER
TROY, Mich., November 4, 1999 -- Kmart Corporation (NYSE: KM) today reported that October consolidated sales increased 3.7% on a comparable store basis. Total consolidated sales increased 6.3% to $2.524 billion for the four-week period ended October 27, 1999 compared with $2.374 billion for the same period last year.
Sales from consolidated operations for the 13 weeks ended October 27, 1999 were $8.057 billion, up 5.4% from $7.642 billion for the same period in 1998. On a comparable store basis, consolidated sales rose 3.2% for the quarter.
Sales from consolidated operations for the 39 weeks ended October 27, 1999 were $24.958 billion, up 7.2 % from $23.273 billion for the first 39 weeks of fiscal 1998. On a comparable store basis, consolidated sales rose 5.2% for the same period.
"Categories showing particular strength for October at Kmart included home-related areas such as housewares, home electronics and décor, as well as seasonal items, jewelry, fashion accessories, health and beauty aids, consumables and pharmaceuticals," said Floyd Hall, Chairman, President, and CEO of Kmart. "Increased promotional activity for the month produced improvement in comparable sales gains from September levels. However, a slower retail environment prevented Kmart from fully recovering the sales momentum of the first half. As a result, we currently anticipate that earnings for the quarter will improve only slightly over last year."
Kmart Corporation serves America with 2,159 Kmart retail outlets. Kmart Corporation common stock is listed on the New York, Pacific and Chicago Stock Exchanges.
KMART CORPORATION SALES
4 Weeks Ended
| % Change | |||||||
| All | Comparable | ||||||
| (Millions U.S. $) |
10-27-99 |
10-28-98 | Stores | Stores | |||
| Total Kmart |
$2,524 |
$2,374 |
6.3 |
3.7 |
|||
KMART CORPORATION SALES
13 Weeks Ended
| (Millions U.S. $) | 10-27-99 | 10-28-98 | |||||
| Total Kmart |
$8,057 |
$7,642 |
5.4 |
3.2 |
|||
KMART CORPORATION SALES
39 Weeks Ended
| % Change | |||||||
| All | Comparable | ||||||
| (Millions U.S. $) | 10-27-99 | 10-28-98 | Stores | Stores | |||
| Total Kmart |
$24,958 | $23,273 | 7.2 | 5.2 | |||