Advertisement
YOU ARE HERE: LAT HomeCollectionsK Mart Corp
IN THE NEWS

K Mart Corp

FEATURED ARTICLES
BUSINESS
August 20, 1990 | From Times Wire Services
K mart Corp., one of the nation's largest retailing companies, said today that its profits edged up 2% in the second fiscal quarter ended Aug. 1 as a result of stronger apparel sales and cost controls. Second-quarter earnings of $148 million, or 74 cents a share, were up from $145 million, 72 cents a share, last year. Revenues climbed 11%, to $7.88 billion from $7.09 billion.
ARTICLES BY DATE
BUSINESS
October 5, 2006 | From Bloomberg News
Kmart Corp.'s former two top executives lost bids to dismiss a U.S. government lawsuit claiming that they misled investors before the retailer's bankruptcy filing. U.S. District Judge Paul V. Gadola in Flint, Mich., rejected a request by former Kmart Chief Executive Charles C. Conaway and Chief Financial Officer John T. McDonald to dismiss a suit filed by the Securities and Exchange Commission.
Advertisement
BUSINESS
August 20, 1986
Joseph E. Antonini, who began with K mart Corp. as a stock clerk 22 years ago, was named president and chief operating officer of the Troy, Mich.-based retailer. Both positions had been vacant.
BUSINESS
March 23, 2006 | From the Associated Press
Minutes after securing final approval for combining Kmart and Sears last year, Edward Lampert pledged to transform the two faded retail icons into "a great company." But he didn't offer any blueprint for how he'd do it. Twelve months later, approaching Friday's anniversary of the unlikely pairing that created Sears Holdings Corp., industry experts are still trying to figure out just what the billionaire chairman has in mind for the struggling store brands.
NEWS
September 23, 1988 | Associated Press
K mart Corp. is recalling about 48,000 School Days Scissors Desk Sets that include a razor-blade knife that could pose a danger to children, the Consumer Product Safety Commission announced Thursday.
BUSINESS
May 16, 1989
K mart Corp.: The nation's second-largest retailer reported that its first-quarter earnings dropped 22.1% to $94.1 million. Sales rose 3.9% to $6.07 billion. The Troy, Mich.-based company blamed the results on lower-than-expected sales. Cooler-than-normal weather during March and the first two weeks of April adversely affected sales of outdoor patio goods and plants, and also hurt apparel sales, the retailer said.
BUSINESS
August 24, 2005 | From Associated Press
The Securities and Exchange Commission on Tuesday filed civil charges against two former Kmart executives, accusing them of making "materially false and misleading" disclosures to shareholders before the retailer's 2002 bankruptcy filing. The complaint filed in U.S. District Court in Detroit charges former Chairman and Chief Executive Charles C. Conaway and former Chief Financial Officer John T. McDonald with securities fraud and aiding and abetting securities fraud.
BUSINESS
March 11, 2005 | From Bloomberg News
Kmart Holding Corp., the retailer that is buying Sears, Roebuck & Co., will convert about 400 stores, more than a quarter of its total, to the Sears name to try to revive sluggish sales. Kmart will remake stores in more affluent areas to take advantage of the Sears brand, which draws higher-income shoppers.
BUSINESS
March 10, 2005 | From Bloomberg News
Kmart Holding Corp., the discount retailer that is buying Sears, Roebuck & Co., reported that fourth-quarter profit rose 14% on cost cuts and the sale of real estate. Net income increased to $309 million, or $3.09 a share, from $270 million, or $2.78, a year earlier, Troy, Mich.-based Kmart said. Sales fell 6.6% to $5.9 billion, the smallest decline in two years. Shares of Kmart rose $2.42 to $111.66 on Nasdaq. From Bloomberg News * Homestore Inc.
BUSINESS
February 9, 2005 | From Associated Press
Sears, Roebuck & Co. disclosed plans Tuesday to switch dozens of recently acquired Kmart stores to a new mid-size store format called Sears Essentials, providing more detail of what the combined Kmart-Sears retail behemoth would look like. Evidently devised with discount giants Wal-Mart Stores Inc. and Target Corp. in mind, the concept will combine select Sears products such as appliances and clothing with convenience items such as health and beauty products.
BUSINESS
January 4, 2005 | From Bloomberg News
Wal-Mart Stores Inc. on Monday estimated that a surge in after-Christmas shopping spurred December sales gains of 3%. Kmart Holding Corp. said it expected to report that profit rose 10% during the holiday season after it limited deep discounts. Wal-Mart last week said the increase in its December sales at stores open at least a year was running in the middle of the 1%-to-3% range it had forecast. Troy, Mich.-based Kmart, the No. 3 U.S.
BUSINESS
November 18, 2004 | Leslie Earnest and James F. Peltz, Times Staff Writers
The owner of the Kmart chain, which came out of bankruptcy protection just 18 months ago, is buying Sears, Roebuck & Co. in an $11.5-billion deal that would create the nation's third-largest retail operation. Under terms of the deal announced Wednesday, the combined company would be headed by Kmart Chairman Edward Lampert, a 42-year-old billionaire who also is Sears' largest single shareholder. The boards of both companies have given the marriage their blessing.
BUSINESS
March 6, 1990 | United Press International
K mart Corp. announced that it has acquired the Sports Authority of Ft. Lauderdale for an undisclosed amount of cash. The Sports Authority operates a chain of eight large stores offering brand-name apparel and sporting goods. It will operate as a separate subsidiary of K mart. Last year, K mart opened two Sports Giant sporting goods stores in the Detroit area. Those stores will be converted into Sports Authority stores this year.
NEWS
October 9, 1986 | Associated Press
Major U.S. retailers today reported modest gains in September sales, a disappointing performance that analysts blamed on unseasonably warm weather, high consumer debt and aggressive marketing by American auto makers. Sears, Roebuck and Co., the largest, said sales for the five weeks ending Oct. 4 edged up 0.7% over a year ago. No. 2 K mart Corp. said sales rose 8.2%, and third-ranked J. C. Penney Co. posted a 5.7% gain.
BUSINESS
November 18, 2004 | Abigail Goldman and Melinda Fulmer, Times Staff Writers
Wednesday's announcement that Kmart Holding Corp. would buy Sears, Roebuck & Co. created a buzz among some Wall Street analysts: Two wrongs don't make a right. To hear the number crunchers tell it, the discounter and the department store -- which face tough competition from Wal-Mart Stores Inc. and Target Corp. -- may well have needed to band together to stay in the game over the long haul. But just because it would be the No. 3 retailer in the U.S.
BUSINESS
October 19, 2004 | From Associated Press
Kmart Holding Corp. has chosen fast-food industry veteran Aylwin Lewis to lead the retailing company, a decision some analysts said could point to a new push to improve operations after the discounter's successful financial turnaround. Kmart said Lewis, 50, a director of Walt Disney Co. and formerly an executive at restaurant operator Yum Brands Inc., would succeed Julian Day as chief executive and president. Shares of Troy, Mich.-based Kmart rose $4.31 to $91.02 on Nasdaq.
Los Angeles Times Articles
|