KMart Posts Profit; Cash Hits $2.6 Bln
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Kmart Holdings Corp. KMRT.O on Monday  reported its third consecutive quarterly profit and boosted its  cash pile to $2.6 billion as it cut spending on advertising and  discounts, sending its stock up 14 percent.
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The mobile phone maker said  fourth-quarter net profit rose to $2.6 billion and that it had reached its goal of 40 percent market share in handset sales. The companyâs stock soared.
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Wal-Mart Stores Inc. said a surge in after-Christmas shopping spurred December same-store sales gains of about 3 percent, at the high end of its forecast. Kmart Holding Corp. said profit rose 10 percent during the holiday season after it limited deep discounts.
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Kmart Holding Corp. , the discount chain pulled from bankruptcy by hedge fund operator Edward Lampert, will buy Sears, Roebuck & Co.  for &#36;10.85 billion in a bold play to revive two of America's best-known, but long-struggling, retail brands.
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Kroger Co. , the largest U.S. grocery chain, got an unexpected tax benefit and posted a 36.4 percent jump in quarterly profit on Tuesday as it attracted shoppers with remodeled stores featuring a better selection of products.
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Sears Holdings Corp.  reported higher fourth-quarter profit on Thursday, helped by property sales and higher operating income at its Sears and Kmart divisions.
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The retailer posts modest gains in total sales and comps.
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Wal-Mart Stores Inc  said on Tuesday quarterly profit rose after penny-pinching U.S. shoppers scoured its discount stores for low prices on necessities like food and laundry detergent.
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Target Corp. , the No. 2 U.S. discount retailer, on Thursday posted a higher quarterly profit, boosted by stronger sales and gains from the sale of its Mervyn's department store chain.
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Albertsons Inc. ABS.N, the No. 2  U.S. grocer, on Thursday posted a 21 percent rise in quarterly  profit due to gains from two recent acquisitions and improved  sales from Southern California where it suffered a strike last  year.
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Discount retailer Kmart Holding Corp. reported Monday that the company swung to a profit in the second quarter, but same-store sales were still in decline.
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Retailer Sears Holdings Corp.  posted a 20 percent rise in quarterly profit on Thursday, helped by a legal settlement and other special gains, but sales declined at both its Sears and Kmart units.
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Shares of Kmart Holding Corp. KMRT.O  hit an all-time high on Tuesday after an analyst raised his  price target on the stock to $101 from $85 a share.
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Kmart Holding Corporation, parent company of the discount retail chain, said it had finalized the sale of 50 stores to Sears, Roebuck and Co for 575.9 million dollars in cash.
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Carnival Corp. & Plc  , the world's largest cruise operator, said on Tuesday that its quarterly earnings rose 2.6 percent, as growth in Europe more than offset weakness in the Caribbean.
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Burger King Holdings Inc. , the world's No. 2 hamburger chain, on Friday posted a better-than-expected quarterly profit, helped by longer store hours and its low-cost breakfast menu.
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Kroger Co. KR.N, the top U.S.  grocer, on Tuesday reported that quarterly profit edged up as  it kept a tight rein on expenses and sales rebounded.