Robert M. Burton
KMART CORPORATION REPORTS NOVEMBER SALES RESULTS
TROY, Mich., December 2, 1999-- Kmart Corporation (NYSE: KM) today reported that November consolidated sales increased 1.4% on a comparable store basis. Total consolidated sales increased 2.1% to $2.961 billion for the four-week period ended November 24, 1999 compared with $2.902 billion for the same period last year.
Sales from consolidated operations for the 43 weeks ended November 24, 1999 were $27.919 billion, up 6.7% from $26.175 billion for the 43 weeks ended November 25, 1998. On a comparable store basis, consolidated sales rose 4.8% for the same period.
"Kmart's sales for November were negatively affected by the continued warm weather, particularly seasonal apparel. Categories showing strength for the month included seasonal, celebration, readers market, DIY, home electronics, home decor, jewelry, consumables, edibles and pharmaceuticals," said Floyd Hall, Chairman, President and CEO of Kmart. "Due to the timing of Kmart's financial calendar, strong sales over the Thanksgiving weekend will help December results. For purposes of comparison with retailers who ended November on the Saturday after Thanksgiving, Kmart's comparable sales gain for November would have been 2.4 percent."
Kmart Corporation serves America with 2,177 Kmart retail outlets. Kmart Corporation common stock is listed on the New York, Pacific and Chicago Stock Exchanges.
KMART CORPORATION SALES
4 Weeks Ended
43 Weeks Ended