Troubled US retailer Kmart said like-for-like sales rose in October compared to the previous month.
The discount retailer's like-for-like sales declined 6.9 percent in September, the 12th consecutive monthly drop. Kmart Chief restructuring officer Ronald Hutchison wasn't more specific following a bankruptcy hearing in Chicago.
Kmart, which has lost about $2.7 billion since filing for bankruptcy protection in January, needs to win shoppers back from rivals such as Wal-Mart this holiday season if it is going to survive, analysts told Bloomberg.
Retailers' Christmas sales could be the worst in more than a decade as consumers trim budgets amid concerns about jobs and the weak U.S. economy.
The discount retailer's like-for-like sales declined 6.9 percent in September, the 12th consecutive monthly drop. Kmart Chief restructuring officer Ronald Hutchison wasn't more specific following a bankruptcy hearing in Chicago.
Kmart, which has lost about $2.7 billion since filing for bankruptcy protection in January, needs to win shoppers back from rivals such as Wal-Mart this holiday season if it is going to survive, analysts told Bloomberg.
Retailers' Christmas sales could be the worst in more than a decade as consumers trim budgets amid concerns about jobs and the weak U.S. economy.
No comments yet