In yet another effort to revitalize its struggling discount stores, Kmart announced Wednesday that it had created a five-man team to lead the company, including the newly hired former merchandise president of Macy’s East.
Charles Chinni, 51, will join the nation’s second-largest retailer as executive vice president of merchandising, in charge of apparel, accessories, home decor, do-it-yourself and electronics. He is a 29-year veteran of Macy’s.
The team will report to Joseph E. Antonini, president and chief executive, who was stripped last month of his chairman’s title. Named chairman was Donald Perkins, an outside director and former chairman of Chicago-based Jewel Cos.
Kmart is trying to improve the performance of its 4,000 stores and end eight consecutive quarters of disappointing earnings, as well as regain business from Wal-Mart Stores Inc. and Dayton Hudson Corp.’s Target stores.
