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November 15, 1994|From Times Staff and Wire Reports

Kmart Profit Plunges Almost 60%: Prompting renewed calls for the retailer to hire an outsider to help pump life into its sagging stores, Kmart Corp. said it earned $39 million, or 8 cents a share, compared to $94 million, or 20 cents a share, last year. The report was much weaker that Wall Street had expected. The retailer had warned shareholders earlier that earnings would be lower.

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