February 4, 1999
Robert M. Burton
KMART CORPORATION REPORTS JANUARY SALES INCREASE
TROY, Mich., February 4, 1999 -- Kmart Corporation (NYSE: KM) today reported that January consolidated sales increased 8.5% on a comparable store basis. Total consolidated sales increased 9.9% to $2.006 billion for the four-week period ended January 27, 1999 compared with $1.825 billion for the same period last year.
Comparable store consolidated sales rose 4.5% for the 13-week period ended January 27, 1999. Total consolidated sales were $10.401 billion for the period, up 6.6% from $9.759 billion for the 13-week period ended January 28, 1998.
Comparable store consolidated sales rose 4.8% for the 52-week period ended January 27, 1999. Total sales in U.S. Kmart stores increased 5.6% for the fiscal year. Including results from divested international operations, total consolidated sales were $33.674 billion for the period, up 4.6% from $32.183 billion for the 52-week period ended January 28, 1998.
"January comparable sales were above plan," said Floyd Hall, Chairman, President, and CEO of Kmart. "Seasonal softlines and consumables set the pace with additional strong showings in home appliances, jewelry, cameras and accessories, do-it-yourself and pharmaceuticals."
Kmart Corporation serves America with 2,161 Kmart retail outlets. Kmart Corporation common stock is listed on the New York, Pacific and Chicago Stock Exchanges.