(2003-05-06) — K-Mart Corporation emerged from 15 months of Chapter 11 bankruptcy protection ready to dominate its niche, according to a company spokesman.
The discount retailer, which closed about 700 of its 2,100 stores and fired 60,000 employees, has struggled in recent years to find a place in the consumer’s mind between Wal-Mart and Target.
“We believe we have a plan to dominate our segment,” said the source. “But we first had to define that niche. To win in retail, you can’t do what others are doing. We’re aiming for the customer who’s not interested in the clean, well-lighted, attractive merchandising of Target stores, and doesn’t care for the reliable low prices, quality brands and friendly service at Wal-Mart.”

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