Women’s Wear Daily
04.21.2014
fashion-features
fashion-features

Kmart Back in the Black and Rumors Swirl About Its Future

Kmart’s first profitable quarter in three years put it back on the retail radar and reignited speculation over a Kmart/Sears merger.

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For the 39-week period, during which Kmart operated as a successor firm to the one that filed for bankruptcy, income was $248 million, or $2.52 a share, against a loss of $1.78 billion, or $3.50, last year. Sales fell by 23 percent to $17.07 billion from $22.17 billion, while comps declined by 9.5 percent.

For the year, incorporating the same 39 weeks and the $862 million loss sustained during the 13 weeks ended April 30, 2003, operated by Kmart’s predecessor firm, the discounter posted a $614 million loss.
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