April 8, 1999
Robert M. Burton
KMART CORPORATION REPORTS MARCH SALES RESULTS
TROY, Mich., April 8, 1999 -- Kmart Corporation (NYSE: KM) today reported that March consolidated sales increased 8.l% on a comparable store basis. Total consolidated sales increased 10.1% to $3.089 billion for the five-week period ended March 31, 1999 compared with $2.806 billion for the same period last year.
Sales from consolidated operations for the 9 weeks ended March 31, 1999 were $5.395 billion, up 8.9% from $4.952 billion for the first 9 weeks of 1998. On a comparable store basis, consolidated sales rose 7.1% for the same period.
"Kmart's March fiscal period ended the Wednesday before Easter, adding some, but not all, of the benefit of the earlier holiday to our comparable sales performance for March, and giving us a strong start to April," said Floyd Hall, Chairman, President, and CEO of Kmart. "Categories showing particular strength for March included home-related items in areas such as small appliances, decor and housewares, as well as toys and hobbies, seasonal items, food items, consumables 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.