TROY, Mich. -- Kmart Corp. here said U.S. sales for its discount-store arm, which now includes 93 supercenters, were roughly flat for the second quarter and half ended July 31.
3.95 billion. Operating results for the discount segment climbed 16.5% to $155 million in the quarter from $133 million a year before. In the half, operating results fell 2.7% to $213 million from $219 million.
Comparable-unit sales for U.S. Kmart stores rose 2.2% in the quarter and 2.9% in the half, which were below expectations, said Floyd Hall, chairman, president and chief executive.
In the quarter, Kmart's total sales, which include Builders Square stores, slipped 1.5% to $8.3 billion from $8.4 billion a year ago. In the half, they were virtually flat, up to $15.89 billion from $15.88 billion. Net income in the quarter was $34 million vs. a $54 million net loss a year ago. Kmart reported a $65 million net loss for the half, which included a $61 million charge for discontinued operations, vs. an $82 million net loss in the year-ago period.