The following is a Kmart (NYSE: KM) statement in response to the Target lawsuit:
Kmart remains committed to its "Dare to Compare" pricing campaign and believe we offer competitive value on merchandise our customers use everyday. Market research shows significant gains in pricing perception for Kmart. More importantly, increases in transaction count and customer count show customer acceptance of an improved pricing and shopping environment at Kmart. It is unfortunate when a competitor has to resort to needless, costly litigation when they discover that they are falling behind in pricing in the retail arena.
Kmart's "Dare to Compare" program is, in fact, designed to reflect our respect for our customers. By providing comparative pricing, our store managers ensure that our customers can make informed purchase decisions. Under the "Dare to Compare" program, prices on the same item are featured on our shelf along with a date of comparison and the amount saved.
We believe in providing this valuable information to our shoppers to help them make well-informed purchases. Kmart will vigorously defend its right to continue to share competitive pricing information with our customers.
SOURCE: Kmart Corporation
Contact: Jack Ferry of Kmart Corporate Communications,