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... The Company also owned 167 Builders Square stores (Home Improvement Centers) and 127 International Kmarts. ... was also located in separate facilities (which was seen by some analysts as an attempt to cut down on Kmart’s corporate meddling). ... Kmart’s cost structure did not allow it to compete head-on with Walmart, nor could it compete with Target’s image of an “upscale” mass merchandiser with upgraded products. ... 18
REORGANIZATION:
During 2002, Kmart eliminated 283 under performing stores, rejected leases for previously closed stores, sold three corporate aircraft, streamlined the firms management structure, reduced staffing levels at the Company’s headquarters, and introduced more efficient business practices throughout the organization. ... 19
Kmarts 5 year business plans calls for a return to profitability by the end of fiscal year 2004, with 2003 as a transition year.
Approximate Word count = 2806
Approximate Pages = 11.2
(250 words per page double spaced)
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