BUSINESS MEMO: KMART WILL CLOSE 15 STORES

TROY, Mich. -- Kmart Corp. is closing 15 stores in eight states by the end of May and eliminating 1,300 jobs.

The company said Friday the closings are part of an ongoing effort to boost profits by shutting poorly performing stores.

Of the latest stores to be closed, five are in California, three in Texas, two in Michigan and one each in Maine, New Jersey, Ohio, Oregon and Rhode Island.

The Troy, Mich.-based company operates 2,163 Kmart stores and 167 Builders Square outlets in the United States and has operations in several other countries.