USA: Kmart's Woes Continue With $137m June Loss
Troubled retail giant Kmart Corp saw its monthly net loss spiral to $137 million in June as sales continued to slide. The Michigan-based chain said that figure included $12m related to its restructuring under Chapter 11 bankruptcy protection and revealed same-store sales - excluding the 283 stores it has closed - fell 8.7 per cent last month, while total sales registered $2.3 billion.
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