Kmart December Same Store Sales Off 2.6%

Troy, MI, January 3–Kmart Holding said Monday that it expects to generate operating income of about $250 million for November and December of 2004, an increase of 10 percent year-over-year.

The company said sales at stores open at least one year, or same-store sales, declined 4.6 percent for November and December — with December same-store sales falling by about 2.6 percent.

Chief executive Aylwin Lewis said, “We are pleased with the significant improvement in the rate of our same-store sales decline. We are implementing numerous initiatives to grow sales and increase profits in 2005.”

Kmart expects its proposed $11 billion merger with Sears, Roebuck & Co. to close by early March 2005.