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News > Companies
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Kmart 3Q losses climb
graphic November 27, 2001: 8:12 a.m. ET

Discount chain's loss slightly less than forecast but wider than year ago.
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NEW YORK (CNN/Money) - Kmart Corp. posted a third-quarter loss that was slightly smaller than expected, though it nearly doubled year-earlier levels.

The Troy, Mich.-based retailer lost $127 million, or 25 cents a share, excluding special items, in the period ended Oct. 31. Analysts surveyed by earnings tracker First Call forecast a 27-cent-a-share loss. The company posted a net loss of $67 million, or 14 cents a share, in the year-earlier period.

Including charges for a restructuring of its supply chain management process and for Bluelight.com, its online sales operation, the company lost $224 million, or 45 cents a share. Revenue fell to $8.0 billion from $8.2 billion a year earlier.

Shares of Kmart (KM: Research, Estimates)  were unchanged at $6.85 in Monday trading. graphic




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