UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) JUNE 21, 2002
KMART CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
MICHIGAN 1-327 38-0729500
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(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION OF FILE NUMBER) IDENTIFICATION NO.)
INCORPORATION)
3100 WEST BIG BEAVER ROAD, TROY, MICHIGAN 48084
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE 248-463-1000
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NOT APPLICABLE
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FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
Kmart Corporation (the "Company") has filed its monthly
operating report for the period commencing May 2, 2002 and
ended May 29, 2002 (the "Operating Report") with the United
States Bankruptcy Court for the Northern District of Illinois,
a copy of which is attached hereto as Exhibit 99, in
connection with its voluntary petitions for reorganization
under Chapter 11 of title 11 of the United States Bankruptcy
Code in Case No. 02-B02474.
The Company cautions readers not to place undue reliance upon
the information contained therein. The Operating Report
contains unaudited information, and is in a format, prescribed
by the applicable bankruptcy laws. There can be no assurance
that the Operating Report is complete. The Operating Report
also contains information for periods which may be shorter or
otherwise different from those contained in the Company's
reports pursuant to the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). Such information may not be
indicative of the Company's financial condition or operating
results for the periods reflected in the Company's financial
statements or in its reports pursuant to the Exchange Act and
readers are cautioned to refer to the Exchange Act filings.
Moreover, the Operating Report and other communications from
the Company may include forward-looking statements subject to
various assumptions regarding the Company's operating
performance that may not be realized and are subject to
significant business, economic and competitive uncertainties
and contingencies, including those described in this report,
many of which are beyond the Company's control. Consequently
such matters should not be regarded as a representation or
warranty by the Company that such matters will be realized or
are indicative of the Company's financial condition or
operating results for future periods or the periods covered in
the Company's reports pursuant to the Exchange Act. Actual
results for such periods may differ materially from the
information contained in the Operating Report and the Company
undertakes no obligation to update or revise the Operating
Report.
The Operating Report, as well as other statements made by the
Company, may contain forward-looking statements that reflect,
when made, the Company's current views with respect to current
events and financial performance. Such forward looking
statements are and will be, as the case may be, subject to
many risks, uncertainties and factors relating to the
Company's operations and business environment which may cause
the actual results of the Company to be materially different
from any future results, express or implied, by such
forward-looking statements. Factors that could cause actual
results to differ materially from these forward-looking
statements include, but are not limited to, the following: the
ability of the Company to continue as a going concern; the
ability of the Company to operate pursuant to the terms of the
DIP facility; the Company's ability to obtain court approval
with respect to motions in the Chapter 11 proceeding
prosecuted by it from time to time; the ability of the Company
to develop, prosecute, confirm and consummate one or more
plans of reorganization with respect to the chapter 11 cases;
risks associated with third parties seeking and obtaining
court approval to terminate or shorten the exclusivity period
for the Company to propose and confirm one or more plans of
reorganization, for the appointment of a chapter 11 trustee or
to convert the cases to chapter 7 cases; the ability of the
Company to obtain and maintain normal terms with vendors and
service providers; the Company's ability to maintain contracts
that are critical to its operations; the potential adverse
impact of the Chapter 11 cases on the Company's liquidity or
results of operations; the ability of the Company to fund and
execute its business plan; the ability of the Company to
attract, motivate and/or retain key executives and associates;
and the ability of the Company to attract and retain
customers. Other risk factors are listed from time to time in
the Company's SEC reports, including, but not limited to the
annual report
on Form 10-K for the year ended January 30, 2002. Kmart
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new
information, future events or otherwise.
Similarly, these and other factors, including the terms of any
reorganization plan ultimately confirmed, can affect the value
of the Company's various pre-petition liabilities, common
stock and/or other equity securities. No assurance can be
given as to what values, if any, will be ascribed in the
bankruptcy proceedings to each of these constituencies. A plan
of reorganization could result in holders of Kmart common
stock receiving no value for their interests. Because of such
possibilities, the value of the common stock is highly
speculative. Accordingly, the Company urges that the
appropriate caution be exercised with respect to existing and
future investments in any of these liabilities and/or
securities.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(c) Exhibits. Document Description
99 Monthly Operating Report for
the Period May 2, 2002 to
May 29, 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
Kmart Corporation
(Registrant)
Date: June 21, 2002 By: /s/ A. A. Koch
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A. A. Koch
Chief Financial Officer
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EXHIBIT INDEX
Exhibit
Number Document Description
99 Monthly Operating Report For The Period May 2, 2002 to
May 29, 2002.
4