This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fleming Says Relationship With Kmart Still 'Strong'

Fleming Cos. (FLM) said its relationship with Kmart (KM) remains "strong" and that average receivables owed to it by the troubled discounter represent less than 0.5% of its annual sales.

The food wholesaler's comments came after Kmart said late last week it is reviewing its liquidity situation and seeking supplemental financing from its lenders.

Kmart's senior unsecured debt rating was lowered three notches by Moody's on Friday to B2, its fifth-highest junk rating. The rating agency said it has "uncertainty about the prospects of Kmart's franchise longer term and the traction of its turnaround strategy."

Kmart's common shares are trading at a 30-year low and were recently down 49 cents, or 15%, to $2.80. The stock, which was the most heavily traded on the New York Stock Exchange Monday, began swooning after an analyst commenting on weak Christmas sales raised the possibility the company might face a bankruptcy filing.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
FLM $49.76 0.00%
AAPL $127.60 0.00%
FB $83.09 0.00%
GOOG $535.38 0.00%
TSLA $205.27 0.00%


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs