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KMART STATEMENT DENIES INACCURATE REPORTS

 TROY, Mich., July 29 /PRNewswire/ -- The following was released by Kmart Corporation (NYSE: KM):
 In response to inaccurate information published today regarding Kmart Corporation's agreements with toy vendors, the retailer issues the following statement:
 "Kmart Corporation has a solid, positive reputation in the retail industry for working with its suppliers. It is false that Kmart has 'demanded' that its toy manufacturers deliver their merchandise on consignment.
 "There are several common ways of accommodating the interests of suppliers and Kmart. Consignment is one way. Consignment agreements are nothing new in the retail industry.
 "Kmart's primary objective in developing agreements with its suppliers is to negotiate an overall price and product line that allow us to pass the savings and greater selection along to customers.
 "A consignment agreement can make a lot of sense in certain situations. Through a consignment agreement, Kmart can provide the supplier a place to sell merchandise which may not have been carried or available in the quantities desired by the vendor without the agreement. Any agreement, however, must be mutual."
 -0- 7/29/93
 /CONTACT: Shawn McGee Kahle, director, Corporate Communications, Kmart Corporation, 313-643-1021/
 (KM)


CO: Kmart Corporation ST: Michigan IN: REA SU:

JG -- DE018 -- 7260 07/29/93 13:41 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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