$270-Million Loss Reported by KmartKmart Corp. said...
$270-Million Loss Reported by Kmart
Kmart Corp. said it had a net loss of $270 million in July and August as sales fell.
Sales at stores open at least a year fell 14% in July and 12% in August, Kmart said in a regulatory filing. Total sales were $4.69 billion in the nine-week period ended Aug. 28.
The company lost $144 million in July and $126 million last month.
Shares of Kmart, which filed for bankruptcy protection in January, fell 2 cents to 59 cents on the NYSE. They have fallen 89% this year.
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