Short Reports

Wed., May 19, 1999

From Staff

Amazon.com, known for selling books on the Internet, is moving into groceries. The company announced Tuesday it is paying $42.5 million for a 35 percent stake in Bellevue-based HomeGrocer.com, which operates an online grocery-delivery service in the Seattle and Portland areas. The company hopes to expand nationally.

ShopKo Stores Inc. will expand two distribution centers, one in Wisconsin and one in Idaho, and build a new center in Nebraska under a project that will cost about $70 million. In Idaho, the Boise facility will grow to 347,000 square feet from its current 214,000 square feet.

Ford Motor Co. will recall about 279,000 full-size sedans to replace a cruise-control switch that could short-circuit and create a fire. The recall affects the 1992 and ‘93 Lincoln Town Car, Mercury Grand Marquis and Ford Crown Victoria sedans equipped with factory-installed cruise control.

Kmart Corp., the nation’s No. 3 retailer, plans to repurchase up to $1 billion in stock over the next few years. Kmart will acquire common shares on the open market, depending on market and other conditions, Kmart president and CEO Floyd Hall said at the company’s annual meeting Tuesday.

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Short Reports

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