Shopko Stores Inc – ‘8-K’ for 1/22/99

As of:  Tuesday, 2/9/99   ·   For:  1/22/99   ·   Accession #:  892712-99-14   ·   File #:  1-10876

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     15K 
 2: EX-99.1     Press Release                                          4±    17K 
 3: EX-99.2     Press Release                                          2±     8K 
 4: EX-99.3     Press Release                                          1      6K 

8-K   —   Current Report
Document Table of Contents

8-K
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SECURITIES AND EXCHANGE COMMISSION                          

Washington, D.C.  20549                         

FORM 8-K                          

CURRENT REPORT                          

Pursuant to Section 13 or 15(d) of the                        
Securities Exchange Act of 1934                         

Date of Report (Date of earliest event                        
reported):  January 22, 1999                        

SHOPKO STORES, INC.                         
(Exact name of registrant as specified in its charter)                          

Wisconsin            1-10876            41-0985054                    
(State or other       (Commission        (IRS Employer                      
jurisdiction of       File Number)       Identification                     
incorporation)                               No.)                         

700 Pilgrim Way                                               
Green Bay, Wisconsin                 54304                  
(Address of principal executive offices)   (Zip Code)                       

Registrant's telephone number, including area code:  (920) 429-2211             

8-K
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Item 5.  Other Events.                                                          

On January 22, 1999, Dale P. Kramer, chairman,                        
president and chief executive officer of ShopKo Stores,                         
Inc. ("ShopKo"), announced his intention to retire as                           
president and chief executive officer of ShopKo,                                
effective March 12, 1999.  Mr. Kramer will remain as                            
the non-executive chairman of ShopKo's board of                                 
directors and will also serve in an advisory capacity.                          
William J. Podany, ShopKo's chief operating officer and                         
president of its retail division, will succeed Mr.                              
Kramer as ShopKo's president and chief executive                                
officer.                                                                        

On February 4, 1999, ShopKo and its wholly-owned                      
subsidiary, ProVantage Health Services, Inc.                                    
("ProVantage"), announced that a registration statement                         
for the initial public offering of ProVantage, through                          
the sale of primary shares of ProVantage, had been                              
filed with the Securities and Exchange Commission.                              
ShopKo will receive a significant portion of the                                
proceeds from the offering and is considering various                           
strategic and financial alternatives for their use.                             
The proceeds of the offering retained by ProVantage                             
will be used for working capital, capital expenditures                          
and other general corporate purposes.  Subsequent to                            
the offering, ShopKo will continue to own a majority of                         
ProVantage.                                                                     

On February 8, 1999, ShopKo announced that its                        
Board of Directors had authorized ShopKo to repurchase                          
its Senior Notes from time to time in the open market                           
and through privately negotiated transactions.  Any                             
purchases would depend on price, market conditions and                          
other factors.  ShopKo is continuing to evaluate                                
alternatives for the refinancing of the Senior Notes.                           

The foregoing descriptions of the press releases                      
are qualified in their entirety by the complete text of                         
the press releases which are attached as exhibits to                            
this Form 8-K and which are incorporated herein by                              
reference.                                                                      

This Form 8-K and the attachments hereto contain                      
forward-looking statements within the meaning of the                            
safe harbor provisions of the Private Securities                                
Litigation Reform Act of 1995.  Such forward looking                            
statements are based upon management's assumptions and                          
beliefs in light of information currently available to                          
it and are subject to important factors which could                             
cause ShopKo's actual results to differ materially from                         
those anticipated in such forward-looking statements.                           
These factors include those referenced in ShopKo's                              
Annual Report on Form 10-K or as may be described from                          
time to time in ShopKo's subsequent SEC filings.                                

Item 7.  Financial Statements and Exhibits.                           

(c)  Exhibits                                                                   

Exhibit Number  Description                                           

99.1            Press Release dated January 22, 1999                  
99.2            Press Release dated February 4, 1999                  
99.3            Press Release dated February 8, 1999                  

8-K
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SIGNATURES                          

Pursuant to the requirements of the Securities                        
Exchange Act of 1934, the Registrant has duly caused                            
this Report to be signed on its behalf by the                                   
undersigned hereunto duly authorized.                                           

Dated:  February 9, 1999        SHOPKO STORES, INC.                             

         By: /s/ Richard D. Schepp
          --------------------------
 Richard D. Schepp
      Senior Vice President,
   General Counsel and
Secretary       

8-K
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EXHIBIT INDEX                         

Exhibit No.   Description                                                       

99.1          Press Release dated January 22, 1999                              
99.2          Press Release dated February 4, 1999                              
99.3          Press Release dated February 8, 1999                              

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		3/12/99		2
Filed on:		2/9/99		3					SC 13G/A
		2/8/99		2		4
		2/4/99		2
For Period End:		1/22/99		1		2
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