News

BlueLight reducing staff, red ink

March 27, 2002

SAN FRANCISCO - Internet retailer BlueLight.com announced it is making changes in order to become profitable.

To reduce marketing and merchandising department costs, effective immediately BlueLight.com will make use of the resources of its majority investor, Troy, Mich.-based Kmart Corp.

BlueLight.com will continue to maintain its online shopping site, free Internet service, in-store kiosks and other related programs from its offices in San Francisco. It will reduce its staff following the restructuring, as duplicate jobs are eliminated.

BlueLight.com is an independent company, a majority of which is owned by Kmart Corp. The company's goal is to represent Kmart's BlueLight brand online by offering customers products and values. BlueLight.com was formed in 1999 by Kmart Corporation (NYSE:KM) and SOFTBANK Venture Capital, with an investment by Martha Stewart Living Omnimedia Inc. (NYSE:MSO).