reported a quarterly loss, hurt by costs from its reorganization and weak sales.
In the second quarter ended July 31, the discount retailer posted a net loss of $377 million, equal to its loss a year earlier. Its net loss per diluted share was 75 cents, compared with 77 cents a year ago.
The company said it can't predict when it will emerge from Chapter 11 bankruptcy. Kmart filed for protection from creditors in January, citing weak holiday sales and tough competition from rivals such as
. It forecast then it would emerge from bankruptcy in July 2003.
Sales at stores open at least a year -- or same-store sales -- fell 11%. That figure excludes data from 283 stores that the company closed on or before June 2, as part of its reorganization under bankruptcy proceedings.