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Kmart Rolls Out 'Store Within A Store' Concept, SuperCenter Expansions and New Stores

TROY, Mich. - Kmart Corporation said on Thursday that it is adding 15 Kmart SuperCenters to its portfolio by mid-November of 2001, bringing the total number of SuperCenter locations throughout the United States and the Caribbean to 124 by year-end.

Ten traditional Kmart stores are being converted within the existing space, three are expansion and conversion of existing Big Kmart stores, and two are newly developed SuperCenter locations. Kmart also will open two traditional Big Kmart stores in Cranston, RI and New Windsor, NY.

"We're excited about the possibilities of our 'in-the-box' conversions to SuperCenters," said Chuck Conaway, Chairman and CEO of Kmart Corporation. "Right now our plans are to go slow and treat these openings as test cases that we can study before we move forward. But we believe that we have anywhere from 1,000 to 1,300 stores that could be converted to SuperCenters. And with our real estate portfolio, that gives us leverage to better serve our customers and shareholders."

Starting last weekend, Kmart unveiled the first of its ten "Store Within a Store" concept stores. These stores integrate the SuperCenter concept, featuring full-service grocery stores, into the existing space of a Big Kmart store.

Kmart SuperCenters also offer services such as video rental, hair salons, florists, UPS shipping, banking, photo processing, in-store eateries and a pharmacy.
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