Troy, MI, March 9--Kmart Holding posted fourth quarter net earnings that were up 14 percent to $309 million, or $3.09 a share, from $270 million, or $2.78, in the same period of the prior year.
Excluding gains from sales of assets and bankruptcy-related recoveries, earnings would have been $259 million, or $2.59 a share, Kmart said.
Sales for the three months ended Jan. 26 fell 7 percent to $5.91 billion from $6.33 billion a year ago.
Same-store sales were off 4.5 percent, compared to 12.8 percent decline in the second quarter and a 14.9 percent decline in the third. In the fourth-quarter of 2003 the company’s same store sales were off 13.5 percent.
