K mart Corp.: The giant retailer’s third-quarter...
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From Times Staff and Wire Reports
K mart Corp.: The giant retailer’s third-quarter net income dropped 18% from a year ago to $104 million. Sales totaled $6.7 billion, up 6%. The Troy, Mich., firm attributed the results to its “everyday low-price policy,” which had been expected to have a negative short-term impact on earnings. Interest expenses on debt reached $51 million, up 35%, because of increased borrowing in 1989, the firm added.
