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KMART CORPORATION REPORTS JULY SALES RESULTS

TROY, Mich., August 8, 2020--Kmart Corporation (NYSE: KM) today reported, on a comparable store basis, consolidated sales decreased 3.8% for the four week period ended July 31, 2020 over sales for the four weeks ended July 26, 2020. July sales in U.S. Kmart stores decreased 3.7% on a comparable store basis over the same period.

Total sales for the month from consolidated operations were $2.315 billion in July 2020, a decrease of 7.8% versus sales of $2.510 billion for the same period last year.

Sales from consolidated operations for the 26 weeks ended July 31 2020 were $15.892 billion up .1% from $15.883 billion for the first 26 weeks of 2020. On a comparable store basis, U.S. Kmart stores rose 2.9% for the same period.

"A number of factors affected Kmart's sales performance in July, producing disappointing results," said Floyd Hall, Chairman, President, and CEO. "Our retail calendar shifted sales volumes for the pre-Fourth of July period into June this year, creating a significant sales shortfall at the outset of July. Secondly, a comparable sales increase last year of 7.4% reflected significant volumes of clearance merchandise. Our performance was also affected by a general slowdown in traffic during the second half of the month, although business rebounded sharply in the first week of August.

"Performance was soft in women's apparel and hard home goods, but continued to be solid in consumables. Specific areas showing particular strength throughout the month include toys, home improvement, major appliances, sporting goods, photo, cosmetics, and pharmacy."

Kmart serves America with 2,143 Kmart and 168 Builders Square retail outlets, and operates 134 stores internationally. Kmart Corporation common stock is listed on the New York, Pacific, and Chicago Stock Exchanges.

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