TROY, Mich. -- Kmart Corp. here is preparing to embark on a substantially revised store-modernization program, which includes the continued rollout of the the Super Kmart Center grocery format but with a reduced number of openings. Kmart, the nation's second-largest retailer, said last week it would take an after-tax charge of $850 million in the fourth quarter, primarily to cover the costs related to its plan to replace smaller stores with larger ones. As part of its modernization and ...

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