K Mart Corp

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.

Three major retailers have agreed to pay nearly half a million dollars to settle a lawsuit stemming from the companies' sale of toys containing excessive amounts of lead, the California attorney general's office said Thursday. Under the agreement, Target Corp., Toys R Us Inc. and Kmart would pay a total of $454,000 in civil penalties and other fines. The retailers, along with several manufacturers including Mattel Inc., were sued by the attorney general's office and the Los Angeles city attorney's office in November 2007 after the firms were found to have sold or made toys with unsafe levels of lead paint.

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.

With only 129 shopping days left until Christmas, the Sears and Kmart chains are trying to entice customers to start saving for the holidays early with a Christmas Club card program. Shoppers who join the program can add money on a regular basis to their cards and receive a 3% reward, up to a $100 value, based on the value of the balance Nov. 14. The card is free, available in stores and online and must be activated by Oct. 31 to be eligible for the 3% reward. Shoppers will need a minimum balance of $5 to use their cards.

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.

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.

Toy store aisles are getting a multicultural makeover. Bolstered by the success of Nickelodeon's popular bilingual children's character Dora the Explorer and the spending power of the nation's growing minority population, toy retailers across the country are filling their shelves with dolls whose skin colors and facial features reflect the girls and boys who play with them.

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.

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.

Kmart Corp. agreed Monday to pay $13 million to settle a class-action lawsuit accusing the retailer of ignoring federal regulations that govern access for disabled customers. The settlement, if it wins a judge's approval, would be the largest ever under terms of the Americans With Disabilities Act. The agreement, which plaintiffs' lawyers said could affect hundreds of thousands of Kmart customers, would allot $12.1 million in damages to class members in California.

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.

Kmart Holding Corp. bought Sears, Roebuck & Co. for $12.3 billion Thursday, combining two faded retail icons whose sales have been declining for years into the nation's third-biggest retailer with $55 billion in annual sales. Shareholders signed off on the deal in separate meetings at Sears' suburban Chicago headquarters, which now becomes the base for a company that adopts the name Sears Holdings Corp. It trails only Wal-Mart Stores Inc. and Home Depot Inc. among U.S. retailers.

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.

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.

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.