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Retailing

October 07, 1994|From Times Staff and Wire Reports

Kmart Corp. Warns of 3rd-Quarter Earnings Decline: The giant discount retailer, the nation's second-largest, said it expects to post its seventh straight earnings decline. It said weak apparel sales and promotions on other goods are pressuring margins for the quarter ending in October. "This will result in a decline in earnings in the 1994 third quarter," Kmart Chairman and Chief Executive Joseph Antonini said. The size of the earnings decline depends on October business, "which should be more favorable than in September," he said. In last year's third quarter, Kmart earned $94 million, or 20 cents a share.

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