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BlueLight reduces costs, losses

Kmart's BlueLight.com has reduced operating costs by 75 percent, the company said in an annual report filing with the Securities and Exchange Commission Wednesday. BlueLight, Kmart's once-independent e-commerce arm that was eventually brought back in to the parent company fold, projected that it will lose $12 million for the first two quarters of 2002, Kmart said. Amid financial troubles, Kmart last year brought BlueLight back in to its own operations and laid off executives and most of BlueLight's staff.

Kmart's BlueLight.com has reduced operating costs by 75 percent, the company said in an annual report filing with the Securities and Exchange Commission Wednesday. BlueLight, Kmart's once-independent e-commerce arm that was eventually brought back in to the parent company fold, projected that it will lose $12 million for the first two quarters of 2002, Kmart said. Amid financial troubles, Kmart last year brought BlueLight back in to its own operations and laid off executives and most of BlueLight's staff.