KMART SHARES RISE AS NET LOSS DECLINES

NEW YORK -- Shares of Kmart Holding Corp. rose early last week after the discounter proved that it didn't have such a bad first quarter after all.The company, which emerged from bankruptcy last month, also said its gross margins got a boost in part from a decline in food and consumables sales, which are less profitable than other merchandise."I think everyone is giving this company a short-term grace

NEW YORK -- Shares of Kmart Holding Corp. rose early last week after the discounter proved that it didn't have such a bad first quarter after all.

The company, which emerged from bankruptcy last month, also said its gross margins got a boost in part from a decline in food and consumables sales, which are less profitable than other merchandise.

"I think everyone is giving this company a short-term grace period," said Bob Carbonell, vice president and director of credit, Bernard

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