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Summary: Kmart Corp. Oct 01 Product Image

Summary: Kmart Corp. Oct 01

  • Published: October 2001
  • Standard & Poors

Abstract
Kmart Corp. is facing challenges as it implements its strategic plan in a very competitive retail environment. Although initiatives to improve the in-stock position and customer service are beginning to take hold, soft consumer spending, tough competition, and costs associated with the company's turnaround are pressuring earnings. Kmart reported a 10% drop in EBITDA for the first half ended Aug. 1, 2001. Standard & Poor's believes that improvements in performance may take longer than originally anticipated. The weak results followed a disappointing performance in fiscal 2000. EBITDA (before nonrecurring items) fell about 30% for 2000, and interest coverage fell to 2.5 times (x) from 3.4x. Operating performance is being impacted by clearance markdowns associated with liquidating excess inventory, and higher...

Companies mentioned in this report are: Kmart Holding Corp.
Action: Review

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Kmart Holding Corp.

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