Kmart Has a Loss of $96 Million in May
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Bloomberg News
Kmart Corp. said it had a loss of $96 million in May as sales fell.
The loss includes reorganization costs of $11 million in professional fees and $6 million in employee retention bonuses. Same-store sales, excluding results at the 283 stores Kmart closed on or before June 2, fell 11%, the retailer said.
Kmart shares rose 2 cents to 86 cents on the NYSE.
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