KMART REPORTS RISING PROFIT, FALLING COMPS

TROY, Mich. -- Kmart here last week reported a profit of $93 million on sales of $4.6 billion for its fiscal first quarter ended April 28. The discounter, which emerged from Chapter 11 bankruptcy protection a year ago, lost $862 million during the same period last year. , reflecting the same-store decline and the closure of 316 stores during the first quarter of last year.Adding to Kmart's profitability,

TROY, Mich. -- Kmart here last week reported a profit of $93 million on sales of $4.6 billion for its fiscal first quarter ended April 28. The discounter, which emerged from Chapter 11 bankruptcy protection a year ago, lost $862 million during the same period last year.

, reflecting the same-store decline and the closure of 316 stores during the first quarter of last year.

Adding to Kmart's profitability, the company said in its Securities and Exchange Commission filing, was a

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