K mart Corp. reported record earnings of...

K mart Corp. reported record earnings of $162.8 million in the second quarter, a 12% gain over the 1987 quarter. For the first half, the Troy, Mich-based retailer’s net income rose to a record $283.6 million, up 8.7%. Chairman Joseph E. Antonini said a modest increase in discount store sales was accompanied by greater volume attributable to lower shelf prices and a strong advertising campaign.