August 5, 1999
Robert M. Burton
KMART CORPORATION REPORTS 3.8% COMPARABLE STORE SALES INCREASE FOR JULY
TROY, Mich., August 5, 1999 -- Kmart Corporation (NYSE: KM) today reported that July consolidated sales increased 3.8% on a comparable store basis. Total consolidated sales increased 6.0% to $2.498 billion for the four-week period ended July 28, 1999 compared with $2.358 billion for the same period last year.
Sales from consolidated operations for the 13 weeks ended July 28, 1999 were $8.757 billion, up 7.9% from $8.116 billion for the same period in 1998. On a comparable store basis, consolidated sales rose 5.9% for the quarter.
Sales from consolidated operations for the 26 weeks ended July 28, 1999 were $16.901 billion, up 8.1% from $15.631 billion for the first half of fiscal 1998. On a comparable store basis, consolidated sales rose 6.2% for the same period.
"July sales were satisfactory, following the strong performance of June," said Floyd Hall, Chairman, President, and CEO of Kmart. "Categories showing particular strength for July include home-related areas such as home appliances and electronics, housewares, home fashions and décor, as well as toys, jewelry, fashion accessories, consumables and pharmaceuticals."
Kmart Corporation serves America with 2,151 Kmart retail outlets. Kmart Corporation common stock is listed on the New York, Pacific and Chicago Stock Exchanges.