K mart Sells Kresge, Jupiter

K mart Corp., the nation’s second-largest retailer, said today it will sell its domestic Kresge and Jupiter stores to McCrory Corp., owner of TG&Y;, J.J. Newberry and other retail chains.

K mart said it was selling the stores that gave the company its start 88 years ago because a five-and-dime operation no longer fits into K mart’s marketing strategy. The 76 stores in 21 states will be renamed McCrory 5 & 10 after the transaction closes in early June, K mart said. The price will depend upon inventory on the closing date.