EARNINGS : K mart Reports 1.7% Increase
From Times Wire Services
TROY, Mich. —
K mart Corp. today said third-quarter earnings were $105.9 million, or 53 cents a share, up 1.7% from earnings of $104.1 million, or 52 cents a share, in the 1989 period. Sales rose to $7.49 billion from $6.71 billion.
“Sales of basic commodity categories of merchandise were generally good during the 1990 third quarter, more than offsetting some softness in electronics and other big-ticket categories,” Joseph E. Antonini, chairman and chief executive officer, said.
Earnings for the 39 weeks ended Oct. 31 were $354 million, or $1.77 a share, up 3.1% from $343.2 million, or $1.71 a share, in the comparable period of 1989.
