Kmart Associates Ratify New Agreements
October 27 2003 - 6:25PM
PR Newswire (US)
Kmart Associates Ratify New Agreements TROY, Mich., Oct. 27
/PRNewswire-FirstCall/ -- Kmart Holding Corporation announced today
that tentative contract agreements between the Company and the
local membership of the United Auto Workers at the Morrisville, PA
and Warren, OH distribution centers have been overwhelmingly
ratified by Kmart associates. The three-year agreements cover over
600 associates in Morrisville and nearly 500 associates in Warren.
Kmart Holding Corporation (NASDAQ:KMRT) and its subsidiaries
(together, "Kmart") is a mass merchandising company that offers
customers quality products through a portfolio of exclusive brands
that include Disney, Jaclyn Smith, Joe Boxer, Kathy Ireland, Martha
Stewart Everyday, Route 66, Sesame Street, and Thalia Sodi. Kmart
operates more than 1,500 stores in 49 states and is one of the 10
largest employers in the country with 170,000 associates. For more
information visit Kmart's website at http://www.kmart.com/.
Cautionary Statement Regarding Forward-Looking Information and
Other Matters Statements made by Kmart that address activities,
events or developments that we expect or anticipate may occur in
the future are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 that reflect
Kmart's current views with respect to current events and financial
performance. Such forward-looking statements are based upon
assumptions concerning future conditions that may ultimately prove
to be inaccurate and involve risks, uncertainties and factors that
could cause actual results to differ materially from any
anticipated future results, express or implied, by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements include,
but are not limited to, factors relating to Kmart's internal
operations and the external environment in which it operates;
marketplace demand for the products of Kmart's key brand partners
as well as the engagement of appropriate new brand partners;
increasing competition from other retailers; Kmart's ability to
operate pursuant to its exit financing facility; outcome of
negotiations on collective bargaining agreements and other labor
issues with unions representing employees in Kmart's distribution
centers; Kmart's ability to obtain and maintain normal terms with
its vendors, attract and retain customers, obtain and maintain
appropriate inventory, implement its business plan and strategies,
attract, motivate and/or retain key executives and associates; and
other risks detailed in Kmart's Securities and Exchange Commission
filings. Kmart undertakes no obligation to release publicly the
results of any revisions to these forward-looking statements to
reflect events or circumstances after the date such statements were
made. DATASOURCE: Kmart Holding Corporation CONTACT: Kmart Media
Relations, +1-248-463-1021 Web site: http://www.kmart.com/
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