Absorbing BlueLight.com Darkens Kmart's 2Q

Share this article:
Hit by the absorption of its online store, Kmart Corp. reported a net loss of $95 million on sales of $8.917 billion for the 13 weeks ending Aug. 1.


The Troy, MI, mass merchandiser would have reported a $22 million net loss if not for the charge for BlueLight.com LLC, San Francisco. Kmart recently bought back the 40 percent it did not own in BlueLight.com from Japan's Softbank Venture Capital and Martha Stewart Living Omnimedia Inc.


Though Kmart's sales dipped 0.9 percent this second quarter, same-store sales rose 1 percent versus the same period last year. Kmart last year reported a second-quarter loss of $448 million.


Kmart recorded nearly $40 billion in revenue last year. It has 2,100 Kmart and Kmart supercenter stores nationwide.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.