December 6, 2003 |
Kmart Holding Corp.'s fiscal third-quarter loss narrowed to $23 million after the company closed more stores during a bankruptcy reorganization. Store sales slumped. The news sent the discount retailer's shares down 6%. The net loss was 26 cents a share in the three months ended Oct. 29. Kmart in the year-earlier period had a net loss of $383 million, or 76 cents a share, before the company reorganized its finances. Revenue dropped 21% to $5.09 billion, the Troy, Mich.-based company said.
CALIFORNIA | LOCAL
December 24, 1996 |
Santa Paula police are looking for the man who robbed a Kmart store early Monday after tying up two female employees. The armed man, who was wearing a dark, hooded sweatshirt, apparently hid in the store at 895 Faulkner Road until after midnight, long after the store had closed. He confronted the two employees in a rear office, said Cmdr. Bob Gonzales of the Santa Paula Police Department. The man tied the women, then stuffed stolen money into four small bags, Gonzales said.
March 10, 1996
I enjoyed Robert Hilburn's article on Garth Brooks ("Coming Down to Earth," March 3). However, it emphasized Garth's desire to sign autographs at Kmart and work hard for his fans as some sort of pacifier for his fear of failure or rejection. His work ethic goes back much farther than his recent slower than normal record sales. The independent music supplier I work for began taking Garth into Kmart and Wal-Mart stores for autograph sessions soon after the release of his self-titled debut album.
September 16, 1998
Carmen Pantages Considine, 89, daughter of a theater magnate and former wife of a well-known producer during Hollywood's Golden Age. Considine was born to Alexander Pantages, the legendary vaudeville impresario whose namesake theaters continue to dot the American landscape (the Pantages in Hollywood for one). She married John W. Considine Jr., producer of such Metro-Goldwyn-Mayer successes as "Boys Town," "Johnny Eager," "Broadway Melody of 1936" and several more. In Culver City on Tuesday.
August 31, 2002 |
A federal judge granted Kmart Corp. the power to issue subpoenas as it investigates whether management practices and policies led to the retailer's bankruptcy filing. Kmart also received permission to revise the terms of a $2-billion loan package so that it could lose up to four times more money before lenders find the retailer in default. Shares of Kmart were unchanged at 65 cents on the NYSE.
January 30, 2002 |
Discount retailer Kmart Corp. said a significant number of its vendors had resumed shipments on normal payment terms, allowing the chain to operate with fewer disruptions. Kmart, which filed a voluntary Chapter 11 bankruptcy petition last week, has received interim court approval for $2 billion in financing, some of which will be used to pay suppliers. Shares of Troy, Mich.-based Kmart were up 31 cents, or about 34%, at $1.23 on the NYSE.
August 20, 2002 |
Kmart Corp. is eliminating 680 more jobs in an effort to cut costs and avoid another spate of store closures as it tries to dig its way out of bankruptcy. The cuts include 400 employees at its Troy, Mich., headquarters. Kmart has closed 283 stores, resulting in 22,000 lost jobs, since it filed Jan. 22 for Chapter 11 bankruptcy protection. Kmart shares gained 4 cents to 60 cents on the NYSE.
September 1, 2001 |
Kmart Corp. has removed from its stores its Dare to Compare price promotions after Target Corp. filed a lawsuit accusing its rival of lying to consumers with the advertising. As a result of Kmart's removal of the signs, Target withdrew its request for a temporary restraining order that would have required Kmart to take them down. It has not withdrawn the lawsuit, however. Both companies hailed the decisions Friday as a victory. James T.
February 14, 2002 |
Kmart Corp. won final approval from U.S. Bankruptcy Court to pay lawyers and advisors helping to reorganize the retailer, and the judge allowed payments to keep garbage from piling up at stores nationwide. The court also approved Kmart payments to suppliers of alcoholic beverages for shipments made before its bankruptcy-protection filing, in order to keep the supplies coming, something the retailer called essential to maintaining a steady stream of customers.
May 3, 2002 |
Kmart Corp., the biggest U.S. retailer to seek bankruptcy protection, may ask former Chief Executive Chuck Conaway and other executives who have left the company to repay millions of dollars in loans. The company is investigating the executives' contracts to see whether the circumstances of their departures make the loans forgivable, Kmart attorney Jack Butler said at a meeting with creditors. Kmart also has suspended severance payments to some managers.