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Retailer loses $5 million in second quarter

Friday, Aug. 29, 2003 | 9:34 a.m.

DETROIT -- The holding company of Kmart Corp. reported today that its second-quarter loss narrowed to $5 million from $293 million a year ago.

The loss was equivalent to 6 cents per share in the quarter that ended July 30. That compared with a loss of $293 million, or 58 cents per share, in the same period a year ago.

"We are pleased with the progress we continue to make in our business," Julian Day, Kmart president and chief executive, said in a statement. The Troy, Mich.-based discount retailer emerged from bankruptcy protection in May.

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