Dry weather takes toll on crops across Kansas

Scattered showers brought some relief from triple-digit temperatures, but all crop conditions have declined across the state, Kansas Agricultural Statistics Service said Monday.

Water for crops is so short that the agency reported in its weekly crop update that just 13 percent of the state had adequate topsoil moisture and only 19 percent had adequate subsoil moisture.

That is showing up in the state’s declining crop conditions:

Corn was rated 13 percent very poor and 22 percent poor.

Milo condition was rated 12 percent very poor and 29 percent poor.

Soybean condition was rated 4 percent very poor and 14 percent poor.

Retail

Kmart losses continue

Kmart’s plans to successfully emerge from Chapter 11 bankruptcy weren’t helped by June sales, according to the retailer’s monthly report released Monday.

Kmart lost $137 million during the month, and the company saw sales at its stores during June drop by 8.7 percent. The June loss follows a $96 million loss the firm posted in May.

Kmart filed for Chapter 11 on Jan. 22, citing disappointing holiday sales and a steep drop in the company’s stock price. In Monday trading on the New York Stock Exchange, Kmart shares gained 2 cents to close at 69 cents a share.

Kmart operates both a retail store and a distribution center in Lawrence.

Real Estate

Malan completes sale of Kmart property

Malan Realty Investors announced Monday it has completed its sale of Lawrence’s Pine Ridge Plaza Shopping Center to Shawnee-based Pine Ridge Plaza LLC for $13.85 million.

The 250,000-square-foot shopping center, located near 31st and Iowa street, is home to Kmart, Kohl’s, Old Navy and several other smaller retailers. The sale is not expected to affect the operations of any of the stores.

Malan, a Michigan-based real estate investment trust, is in the process of selling most of its 56 properties across the country to repay its mounting debt.

As part of that effort, the company on Monday also announced the sale of Kmart-anchored shopping centers in Wichita and Salina to Hutensky Capital Partners LLC of Hartford, Conn.