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Resource ID: #18556
Subject: Backgrounding
Source: Baseline (New York)
Date: 2001-12-10



Reporters David Carr and Edward Cone examine Kmart's strategic plan for turning around profits and becoming competitive with the likes of Wal-Mart and Target. The restructuring all falls on the shoulders of one man, Chuck Conaway, who was named Kmart CEO in May 2000. Conway promised a two-year recovery plan for the discount retailer that placed heavy importance on revamping the corporation's supply and inventory management systems, as well as "micromerchandising" in specific communities. But the retailer has had a difficult time turning around, Kmart's sales numbers dropped drastically after the events of Sept. 11, while its competitor's, Wal-Mart and Target, went up significantly.

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