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January 23, 2002
By: TOM BRANNA
Editor
Procter & Gamble Co. executives said they expect Kmart Corporation’s filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code on Jan. 21 to have no material impact on P&G’s sales or earnings results. Approximately 75% of P&G’s Kmart volume is supplied through third party distributors, which in turn supply Kmart; the remaining 25% is supplied directly to Kmart.Kmart’s bankruptcy declaration is the largest in the retail business since Federated ...
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