Losses Keep Mounting for Kmart

Kmart Corp. (Troy, Mich.) announced net losses of $137 million in June. That included $12 million directly attributable to its restructuring under Chapter 11 bankruptcy.

Same-store sales for the five-week period ended July 3, 2002, were 8.7 percent lower than the same period last year, excluding the 283 stores the company has closed since its bankruptcy declaration in January.