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May 7, 1998
Robert M. Burton KMART CORPORATION REPORTS APRIL SALES RESULTS TROY, Mich., May 7, 1998-- Kmart Corporation (NYSE: KM) today reported that April consolidated sales increased 16.2% on a comparable store basis. Total sales in U.S. Kmart stores increased 16.4% for the four-week period ended April 29, 1998. Including results from divested international operations, total consolidated sales increased 13.0% to $2.563 billion compared with $2.268 billion for the same period last year. Sales from consolidated operations for the 13 weeks ended April 29, 1998 were $7.515 billion, up 3.5% from $7.263 billion for the first quarter of 1997. On a comparable store basis, consolidated sales rose 6.1% for the same period. "Kmart’s comparable sales for April increased sharply due to the later Easter holiday, favorable weather and the rollout of 117 store conversions into the Big Kmart format," said Floyd Hall, Chairman, President, and CEO of Kmart. "Categories showing particular strength for the month included ladies and children’s apparel, home electronics, home appliances, toys, jewelry, outdoor sporting goods, consumables, and photography." Kmart Corporation serves America with 2,118 Kmart retail outlets. Kmart Corporation common stock is listed on the New York, Pacific and Chicago Stock Exchanges. Kmart will report its first quarter 1998 earnings on Wednesday, May 13.
(a) Kmart Corporation completed the divestiture of its remaining International Operations during June 1997.
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