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Kmart Same-Store Sales Improve in October
Oct 31, 2002
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Kmart Corp., the largest U.S. retailer to file for bankruptcy, said sales at stores open at least a year improved in October from September. The discount retailer's same-store sales declined
6.9 percent in September, the 12th consecutive monthly drop. Kmart Chief Restructuring Officer Ronald Hutchison wasn't more specific following a bankruptcy hearing in Chicago. Kmart, which has lost about U.S. $2.7 billion since filing for bankruptcy protection in January, needs to win shoppers back from rivals such as Wal-Mart Stores Inc. this holiday season if it is
going to survive, analysts said. Retailers' Christmas sales may be the worst in more than a decade as consumers trim budgets amid
concerns about jobs and the weak U.S. economy, analysts said. (Bloomberg News)

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