Kmart Denies It Plans to Close 500 Stores
Reuters
Kmart Corp. Chairman James Adamson said the retailer would unveil its store closure plan March 11, but dismissed some analysts’ forecasts that at least 500 stores would be shut.
Adamson also said he hopes Kmart would have $35 billion in sales by next year, $2 billion below the fiscal 2001 level. Kmart stock fell 1 cent to close at $1.13 on the NYSE.
