Troy, Mich., Kmart said its same-store sales declined 4.6% for November and December and declined 2.6% for December alone. The news was seen as good news by new CEO Aylwin Lewis. â€śWe are pleased with the significant improvement in the rate of our same-store sales decline,â€ť he said. â€śWe are implementing numerous initiatives to grow sales and increase profits in 2005.â€ť
The chain, which expects to merge with Sears early this year, said operating income should increase 10% in November and December to $250 million.