Kmart Corporations Bluelight.com Announces an Agreement With Global Sports
Kmart Corporation’s (NYSE:KM) Bluelight.com subsidiary today announced that they have signed an e-commerce agreement with Global Sports (NASDAQ: GSPT) to provide services for the company’s online shopping site.
Under the agreement between the parties, Global Sports will manage certain aspects of Kmart’s overall e-commerce business, including fulfillment, technology and customer service. Kmart will maintain its significant commitment to promote its e-commerce presence through its own marketing efforts and in-store at its more than 2,100 retail outlets.
Commenting on the alliance, Chuck Conaway, Chairman and CEO of Kmart Corporation, said, “Today’s announcement recognizes our continued focus on serving our customer in every step of their shopping experience – both in-store and online. Since acquiring the remaining shares of BlueLight.com, we have been reviewing all aspects of the operation, looking for new ways to increase efficiencies and better serve the consumer.”
Michael Rubin, Chairman and CEO of Global Sports, commented, “We are excited to be chosen by Kmart’s Bluelight.com as their e-commerce partner. We believe this represents a tremendous online opportunity.”
The transition to Global Sports’ fulfillment, technology and customer care resources is expected to be completed by the end of the third quarter of 2001. The companies expect Kmart’s Bluelight.com online shopping site to continue uninterrupted during this period.
About Kmart Corporation
Kmart Corporation is a near-$40 billion company that serves America with more than 2,100 Kmart and Kmart Supercenter retail outlets and through its e-commerce subsidiary, Bluelight.com. Kmart donates $35 million each year to support its hometowns and local nonprofit organizations. Kmart associates also provide their most valuable resource—time—every day in their local communities. In addition to serving all 50 states, Kmart operations extend to the Caribbean Islands and Asia Pacific. More information about Kmart is available on the World Wide Web at www.bluelight.com under the ``About Kmart’’ section.
About Global Sports
Global Sports, Inc. (NASDAQ: GSPT) (www.globalsports.com) is a leading developer and operator of e-commerce businesses.
Forward-Looking Statements
All statements made in this release, other than statements of historical fact, are forward-looking statements. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “will”, “guidance”, and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the businesses of Kmart and Global Sports and the industry and markets in which they operate. Those statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by those forward-looking statements. Factors which may affect the business, financial condition and operating results of Kmart and Global Sports include the effects of changes in the economy, consumer spending, the stock market and the retail, sporting goods and e-commerce industries generally. More information about potential factors that could affect Kmart and Global Sports can be found in their most recent reports and statements filed by them with the Securities and Exchange Commission. Kmart and Global Sports expressly disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated by them.
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Contact:
Kmart Corporation Contact:
Dave Karraker
(415) 229-9770
dave@bluelight.com
Global Sports Contact:
Patricia Henderson
(610) 491-7013
hendersonp@globalsports.com
