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Kmart Corp's Inks Pact with Global Sports

Kmart Corporation's (NYSE:KM) subsidiary today announced that they have signed an e-commerce agreement with Global Sports (NASDAQ:GSPT) to provide services for the company's online shopping site.

Under the agreement between the parties, Global Sports will manage certain aspects of Kmart's overall e-commerce business, including fulfillment, technology and customer service. Kmart will maintain its significant commitment to promote its e-commerce presence through its own marketing
efforts and in-store at its more than 2,100 retail

Commenting on the alliance, Chuck Conaway, Chairman and CEO of Kmart Corporation, said, "Today's announcement recognizes our continued focus on serving our customer in every step of their shopping experience - both in-store and online. Since acquiring the remaining shares of, we have been reviewing all aspects of the operation, looking for new ways to increase efficiencies and better serve the consumer."

Michael Rubin, Chairman and CEO of Global Sports, commented, "We are excited to be chosen by Kmart's as their e-commerce partner. We believe this represents a tremendous online opportunity."

The transition to Global Sports' fulfillment, technology and customer care resources is expected to be completed by the end of the third quarter of 2001. The companies expect Kmart's online shopping site to continue uninterrupted during this period.
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