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BUSINESS BRIEFS.(TO THE POINT)
RETAIL
Kmart sales fall, but shares soar
The discount retailer expects a Nov.-Dec. profit due to lean inventory and fewer unprofitable promotions. But same-store sales fell 13.5% vs. a year earlier. Total sales dived 26% to $5.1 bil amid major store closures. Shares of Kmart, which recently exited bankruptcy, shot up 27% to $29.12.
Flu outbreak boosts Walgreen's
The No. 1 U.S. drug store chain said the early flu season boosted demand for its medicines, helping it meet views for a 10% rise to 25 cents a share. Sales rose 17% and same-store sales jumped 12%, with front-end sales up 7.5%, the biggest gain in 9 years. Prescription sales were up 18.7% and comps rose 14.7%. Shares closed down 1% to $35.25.
TECHNOLOGY
IBM fires execs in Korea scandal
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