Daily News Record, May 8th, 1992
WASHINGTON (FNS)--K mart Corp. is taking discount retailing to Czechoslovakia, marking its first entry into the eastern European market.
Company officials disclosed it bought a majority interest in MAJ, one of the largest department stores in Prague, and is in negotiations to buy 11 other department stores within the next three months.
K mart also plans to work with local Czech companies to develop products, including clothing, for export to the U.S.
According to Joseph E. Antonini, company chairman, president and chief executive officer, "We've been scouring eastern Europe for more than ...
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