Kmart Corp. Reports 1.0% Same-Store Sales Increase for March

Apr 12, 2001, 01:00 ET from Kmart Corporation

    TROY, Mich., April 12 /PRNewswire/ -- Kmart Corporation (NYSE:   KM)
 reported today that for the five-week period ended April 4, 2001 net sales
 increased 1.0% on a same-store basis.  For the nine-week period ended April 4,
 2001, net sales increased 1.9% on a same-store basis.
     "For the fifth consecutive month, we have met or exceeded our sales
 expectations.  This was accomplished while reducing advertising for the month
 in comparison to our historical trend and also facing adverse weather
 conditions throughout the country that affected our seasonally-sensitive
 businesses," said Chuck Conaway, Chairman and CEO of Kmart.  "We continue to
 grow same-store sales as we make consistent progress in our three strategic
 imperatives.  Our in-stock position and customer satisfaction metric, which
 measures customers who rate their overall shopping experience as excellent,
 have both reached an all-time high, indicating significant improvement in our
 execution.  We are now growing in an intelligent, consistent and healthy
 manner."
     "On April 2nd, we unveiled our first new marketing initiative across the
 chain by launching the BlueLight Special," continued Conaway.  "The BlueLight
 Special is designed to reward our customers and ultimately drive frequency and
 loyalty to Kmart.  It creates excitement in our stores by featuring different
 nationally recognized brands every single day at incredible values.  We are
 excited to bring back this great American icon, exclusive to Kmart, and have
 already seen early indications of our customers' enthusiasm to this program."
 
                            KMART CORPORATION SALES
 
                                 5 Weeks Ended
                                                               Change
     ($Millions)            04-04-01      04-05-00    All Stores    Same-Store
     Total Kmart             $3,132        $3,156       (0.7)%         1.0%
 
                                 9 Weeks Ended
                                                               Change
     ($Millions)            04-04-01      04-05-00    All Stores    Same-Store
     Total Kmart             $5,579        $5,569        0.2%          1.9%
     # of Store Locations     2,110         2,171       (2.8)%
 
 
     Cautionary Statement Regarding Forward-looking Information
     Statements, other than those based on historical facts, which address
 activities, events, or developments that the Company expects or anticipates
 may occur in the future are forward-looking statements which are based upon a
 number of assumptions concerning further conditions that may ultimately prove
 to be inaccurate.  Actual events and results may materially differ from
 anticipated results described in any forward-looking statements.  The
 Company's ability to achieve such results is subject to certain risks and
 uncertainties, including, but not limited to, economic and weather conditions
 which affect buying patterns of the Company's customers, changes in consumer
 spending and the Company's ability to anticipate buying patterns and implement
 appropriate inventory strategies, continued availability of capital and
 financing, competitive factors, and other factors affecting business beyond
 the Company's control.  Consequently, all of the forward-looking statements
 are qualified by these cautionary statements and there can be no assurance
 that the results or developments anticipated by the Company will be realized
 or that they will have the expected effects on the Company or its business or
 operations.
     Kmart Corporation is a near-$40 billion company that serves America with
 more than 2,100 Kmart and Kmart supercenter retail outlets.  Kmart donates
 nearly $1 million each week to support its hometowns and local non-profit
 organizations.  Kmart associates also provide their most valuable resource --
 time -- everyday in their local communities.  In addition to serving all 50
 states, Kmart operations extend to the Caribbean Islands and Asia Pacific.
 More information about Kmart is available on the World Wide Web at
 www.bluelight.com under the "About Kmart" section.
 
 

SOURCE Kmart Corporation
    TROY, Mich., April 12 /PRNewswire/ -- Kmart Corporation (NYSE:   KM)
 reported today that for the five-week period ended April 4, 2001 net sales
 increased 1.0% on a same-store basis.  For the nine-week period ended April 4,
 2001, net sales increased 1.9% on a same-store basis.
     "For the fifth consecutive month, we have met or exceeded our sales
 expectations.  This was accomplished while reducing advertising for the month
 in comparison to our historical trend and also facing adverse weather
 conditions throughout the country that affected our seasonally-sensitive
 businesses," said Chuck Conaway, Chairman and CEO of Kmart.  "We continue to
 grow same-store sales as we make consistent progress in our three strategic
 imperatives.  Our in-stock position and customer satisfaction metric, which
 measures customers who rate their overall shopping experience as excellent,
 have both reached an all-time high, indicating significant improvement in our
 execution.  We are now growing in an intelligent, consistent and healthy
 manner."
     "On April 2nd, we unveiled our first new marketing initiative across the
 chain by launching the BlueLight Special," continued Conaway.  "The BlueLight
 Special is designed to reward our customers and ultimately drive frequency and
 loyalty to Kmart.  It creates excitement in our stores by featuring different
 nationally recognized brands every single day at incredible values.  We are
 excited to bring back this great American icon, exclusive to Kmart, and have
 already seen early indications of our customers' enthusiasm to this program."
 
                            KMART CORPORATION SALES
 
                                 5 Weeks Ended
                                                               Change
     ($Millions)            04-04-01      04-05-00    All Stores    Same-Store
     Total Kmart             $3,132        $3,156       (0.7)%         1.0%
 
                                 9 Weeks Ended
                                                               Change
     ($Millions)            04-04-01      04-05-00    All Stores    Same-Store
     Total Kmart             $5,579        $5,569        0.2%          1.9%
     # of Store Locations     2,110         2,171       (2.8)%
 
 
     Cautionary Statement Regarding Forward-looking Information
     Statements, other than those based on historical facts, which address
 activities, events, or developments that the Company expects or anticipates
 may occur in the future are forward-looking statements which are based upon a
 number of assumptions concerning further conditions that may ultimately prove
 to be inaccurate.  Actual events and results may materially differ from
 anticipated results described in any forward-looking statements.  The
 Company's ability to achieve such results is subject to certain risks and
 uncertainties, including, but not limited to, economic and weather conditions
 which affect buying patterns of the Company's customers, changes in consumer
 spending and the Company's ability to anticipate buying patterns and implement
 appropriate inventory strategies, continued availability of capital and
 financing, competitive factors, and other factors affecting business beyond
 the Company's control.  Consequently, all of the forward-looking statements
 are qualified by these cautionary statements and there can be no assurance
 that the results or developments anticipated by the Company will be realized
 or that they will have the expected effects on the Company or its business or
 operations.
     Kmart Corporation is a near-$40 billion company that serves America with
 more than 2,100 Kmart and Kmart supercenter retail outlets.  Kmart donates
 nearly $1 million each week to support its hometowns and local non-profit
 organizations.  Kmart associates also provide their most valuable resource --
 time -- everyday in their local communities.  In addition to serving all 50
 states, Kmart operations extend to the Caribbean Islands and Asia Pacific.
 More information about Kmart is available on the World Wide Web at
 www.bluelight.com under the "About Kmart" section.
 
 SOURCE  Kmart Corporation