In Brief: Kmart’s Q1 Update…Brooklyn Bandits Hold-Up Macy’s
KMART’S Q1 UPDATE: The Kmart Holding Corp. on Friday filed with the Securities and Exchange Commission its audited first-quarter results reflecting “fresh start” accounting, following its exit from bankruptcy proceedings in...
KMART’S Q1 UPDATE: The Kmart Holding Corp. on Friday filed with the Securities and Exchange Commission its audited first-quarter results reflecting “fresh start” accounting, following its exit from bankruptcy proceedings in May. The Troy, Mich.-based company posted a net loss of $862 million, or $1.65 a share, for the quarter ended April 30, versus a loss of $1.4 billion, or $2.87, a year ago. The audited results were in line with what the retailer reported in June, even though Kmart in a separate amended filing on Friday had reclassified certain items from the year-ago quarter.
BROOKLYN BANDITS HOLD-UP MACY’S: Two armed men wearing ski masks entered the Macy’s department store at Atlantic Center in Brooklyn, N.Y., on Saturday morning, assaulted a security guard, and ran off with $37,000 in cash. A police spokesman for the 88th Precinct in the Fort Greene section of Brooklyn said Sunday that no arrests had been made, and that the investigation is ongoing. “We are looking at videos and interviewing witnesses,” he said. The robbery took place shortly after the store opened. No shots were fired, but the injured security guard was taken to Brooklyn Hospital Center, where he was treated for a cut to his head and then released. Officials at Macy’s could not be reached for comment at press time.
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