Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, February 28, 1995                   TAG: 9502280120
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

Fieldcrest Cannon Inc., an Eden, N.C.-based textile maker, on Monday announced a reorganization of its New York operations, resulting in the relocation of 20 percent of its 124 employees to Kannapolis, N.C. Included are the company's division presidents, marketing and operations personnel. About 40 employees are expected to resign or be terminated, the company said.

- Staff report

Earnings

Kmart Corp., Troy, Mich., operator of Kmart, OfficeMax and Waldenbooks stores in Western Virginia, reported net income of $260 million, or 55 cents per share, on sales of $34.03 billion in its fiscal year ended Jan. 25, compared with a year-earlier net loss of $347 million, equal to 78 cents per share, on sales of $32.13 billion. For its fourth quarter, net income was $145 million, or 31 cents per share, on sales of $10.44 billion, compared with a year-earlier net loss of $1.19 billion, equal to $2.61 per share, on sales of $9.64 billion.