Troy, Mich. – Chuck Conaway, chairman and CEO of locally based Kmart Corp., recently told shareholders at the company's annual meeting about Kmart's progress in implementing key initiatives to achieve world-class execution.

As part of this progress, the company has eliminated nearly 15,000 storage trailers behind stores holding merchandise that should have been on the selling floor. In-stock levels have improved from 79 percent in October to 88 percent presently.

The company's top priorities for 2001 include fixing the supply chain, enhancing its marketing effectiveness, developing world-class food programs, reducing expenses and improving the 250 bottom-performing stores.