TROY, Mich. - Kmart Corp. will delay the release of its fourth-quarter and full year earnings as a result of its Chapter 11 bankruptcy filing, the company said. <br>
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Earnings had been scheduled to be released Tuesday. Earnings instead will be released when Kmart files its annual 10-K report in April. <br>
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The 10-K report must be filed with the Securities and Exchange Commission within 90 days of the end of the fiscal year, but Kmart may get an extension if there are any disruptions because of bankruptcy court proceedings, company spokesman Jack Ferry said. The fiscal year ended in January. <br>
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Last month, Kmart said it will start filing monthly operating statements in bankruptcy court in late March. <br>
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Kmart filed for Chapter 11 on Jan. 22, following lower-than expected holiday sales, downgrades by several credit rating agencies and a stock dive. The discount retailer is expected to release a list of store closings later this month. <br>
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In morning trading on the New York Stock Exchange, Kmart shares were down two cents at $1.09. <br>
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On the Net: <br>
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Kmart Corp., http://www.bluelight.com <br>
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