SALES INCREASE, BUT KMART HAS $25 MILLION FIRST-QUARTER LOSS

TROY, Mich. -- Kmart Corp. here said the first quarter ended May 2 was characterized by positive trends in same-store sales, merchandise in-stock position and customer service.with net income of $22 million, or 6 cents per share, last year.Excluding a charge for employee severance and the company's voluntary early retirement program, Kmart reported a net loss of $10 million, or 2 cents per share.The

TROY, Mich. -- Kmart Corp. here said the first quarter ended May 2 was characterized by positive trends in same-store sales, merchandise in-stock position and customer service.

with net income of $22 million, or 6 cents per share, last year.

Excluding a charge for employee severance and the company's voluntary early retirement program, Kmart reported a net loss of $10 million, or 2 cents per share.

The company said its in-store stock levels improved from 79% in Octob

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