USA: Fleming "pleased" by Kmart store closure plan
Dallas-based distribution giant Fleming has said it is "pleased" by today's [Monday] announcement by grocery chain Kmart that it will close 284 stores in 2002 as part of its financial objectives review. "We are pleased by today's announcement from Kmart," said Mark Hansen, chairman of the board and CEO of Fleming: "Based on our historical sales to Kmart, it is readily apparent that Kmart has, indeed, selected its least productive stores for closure. And because these stores were not performing to their full potential in sales and order volume, they are the most costly for Fleming to serve. Now we can focus our full efforts on serving the most efficient segment of the Kmart store base."
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