K mart Corp.: The nation’s second-largest retailer...

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.