Continuing strong sales in its apparel departments...

Continuing strong sales in its apparel departments increased Troy, Mich.-based K Mart’s profit 12.7% in the third quarter, compared to the same period of last year. Significant improvements also were achieved in the sporting goods and automotive departments, a spokesman said. The increase was accomplished despite the firm’s earnings being reduced 8 cents per share becuse of the elimination of the investment tax-credit under this year’s tax-reform law. Also, the opening of 30 new Builders Square stores placed a burden on third-quarter results, since all pre-opening costs are expensed as incurred, the spokesman added.