Kmart cuts its losses during September. (Business Today).(Company Profile)

Home Textiles Today, October, 2002 by Hogsett, Don

Troy, MI -- Working its way through a painful bankruptcy and restructuring, giant Kmart Corp. posted a $176 million loss during September. And while same-store sales continue to decline, the trend line is clearly improving, and the dips are growing smaller, as new merchandising programs kick in.

Still on the downturn, September same-store sales fell by 6.9 percent, but the rate of decline has slowed substantially since the summer doldrums. And the September results were a big improvement over an 11.9 percent drop recorded the month before, and an even steeper skid of 13.8 percent in July. Same-store sales hit their lowest point of the year during April, plunging by 16.4 percent. Putting the September number into further perspective, the 6.9 percent...

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