Troy, MI-- Friday 10:35 am (ASSOCIATED PRESS)-- Kmart Holding Corp. (NASDAQ: KMRT)announced today that it will be appointing the services of international merchandiser SPAR Group Inc. (NASDAQ: SGRP) to assist in the opening of 48 new Sears branded Kmart stores in the USA and 18 new stores in Europe. The contract is expected to yield approximately $56 million revenue for SPAR Group Inc. over the next one year, while expanding Kmart retail in Europe and USA. Rachel Giovanni, spokesperson for Kmart quotes "We are happy to announce this new, mutually beneficial relationship with SPAR Group Inc. Kmart will use SPAR Group's expertise and experience in international merchandising to further expand our chain in Europe, and SPAR Group Inc. will leverage Kmart's financial resources to expand locations in Europe." Exact financial details will be announced on December10th, 2004."
Posted by shaggylicious on :
I'm very happy that they got $56 million from KMART .. what a great stock we picked!