From Times Staff and Wire Reports

Kmart May Spin Off Units: The nation's second-largest retailer may spin off some of its fast-growing specialty stores to boost shareholder value, Chairman Joseph Antonini said. Shares of fast-growing companies typically trade at a higher ratio to earnings than slower-growing groups. Three of Kmart's six specialty stores--Pace Membership Warehouse, Builders Square and OfficeMax--are growing rapidly and would benefit if traded separately, analysts said. Kmart's specialty unit sales are up 7.9% this year.

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