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NEW YORK–Kmart chairman and CEO Chuck Conaway told analysts Thursday that the company is continuing to reduce its reliance on advertising.
The strategy, revealed during the company’s second-quarter conference call, is part of a move to strengthen financial performance of the $40 billion Troy-based discount store. Kmart reduced Sunday circular advertising by 75 pages during the quarter. Direct mail pieces were reduced by 64 million pieces nationally. Those actions resulted in a $25 million reduction in advertising costs for the quarter and a $70 million reduction year-to-date, said Kmart spokesman Jack Ferry in a separate interview after the conference call.
Kmart
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