Kmart Has Happy Holiday

Boosting its overall profit outlook for the all-important Christmas quarter, Kmart reported strong profitability and cash generation during the holiday season, along with an improving same-store sales picture.

Same-store sales for November and December declined 4.6 percent, with December sales looking even better, slipping just 2.6 percent. While comps continue to decline, it's at a far slower pace than earlier during the year, when same-store sales skidded down at a double-digit pace. During the third quarter, comps dropped off 12.8 percent from the same period a year ago.

“Kmart has taken actions on many fronts to reset baseline sales at a level that forms the basis for profitable growth,” said Aylwin Lewis, CEO. “It is our intention to maintain a substantial base of sales and be significantly profitable at the same time.”

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

See details!