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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): June 9, 1997
SHOPKO STORES, INC.
(Exact name of registrant as specified in its charter)
Minnesota 1-10876 41-0985054
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
700 Pilgrim Way
Green Bay, Wisconsin 54304
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (414) 497-2211
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Item 5. Other Events
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ShopKo Stores, Inc. a Minnesota corporation ("SkopKo") announced on June
10, 1997, that Stephen E. Watson and William J. Podany have agreed to join
ShopKo's Board of Directors. On June 9, 1997, ShopKo, Supervalu Inc. and
Supermarket Operators of America, Inc. amended the Stock Buyback and Secondary
Offering Agreement dated April 24, 1997 (the "Amendment"). Certain additional
information regarding the announcement and the Amendment is contained in
ShopKo's press release dated June 10, 1997, and the Amendment which are
incorporated herein by reference and which are attached hereto as exhibits. The
foregoing summary of such exhibits is qualified in its entirety by reference to
the complete text of such exhibits.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
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Exhibit Number Description
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10.1 Amendment dated June 9, 1997 to Stock Buyback and
Secondary Offering Agreement dated April 24, 1997.
99.1 Press Release dated June 10, 1997.
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SIGNATURES
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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: June 11, 1997 SHOPKO STORES, INC.
By: /s/ Richard D. Schepp
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Richard D. Schepp, Vice President
Legal Affairs
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EXHIBIT INDEX
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Exhibit No. Description
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10.1 Amendment dated June 9, 1997 to Stock
Buyback and Secondary Offering Agreement
(incorporated by reference to ShopKo's
Registration Statement on Form S-3, Reg.
No. 333-26615)
99.1 Press Release dated June 10, 1997.
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EXHIBIT 99.1
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Watson and Podany to Join ShopKo Board of Directors
GREEN BAY, Wis., June 10/PRNewswire/ -- ShopKo Stores, Inc. (NYSE:SKO)
today announced that Stephen E. Watson, past president of Dayton Hudson
Corporation (NYSE:DH), and past chairman and chief executive officer of Dayton
Hudson's Department Store Division; and William J. Podany, ShopKo's chief
operating officer and executive vice president, have agreed to join its board of
directors. Mr. Watson and Mr. Podany will become the sixth and seventh members
of the ShopKo board, which currently consists of five members.
Pursuant to the previously announced Stock Buyback and Secondary Offering
Agreement between ShopKo and Supervalu Inc. (NYSE:SVU), whereby Supervalu will
liquidate its current holdings of ShopKo stock, Michael Wright, Supervalu's
chairman, president and chief executive officer, and Jeffrey Girard, Supervalu's
executive vice president and chief financial officer, will resign from the
ShopKo board as soon as their replacements are selected, but no later than
October 1, 1997.
Stephen E. Watson
Mr. Watson retired in March 1996 as president of Dayton Hudson Corporation
and as chairman and chief executive officer of Dayton Hudson's Department Store
Division. In his 24-year career with Dayton Hudson, he advanced quickly through
buying, divisional and general merchandise management, before being named
executive vice president of merchandising and marketing in 1982. Upon the
combination of Dayton's and Hudson's in 1984, he was named president of the
Hudson's Division. In 1985, Mr. Watson was promoted to chairman and chief
executive officer of the combined Dayton Hudson Department Store Division.
While maintaining responsibility of the Department Store Division, he was
appointed executive vice president of Dayton Hudson Corporation in 1989. He was
named president and a member of Dayton Hudson's board of directors in 1991.
Mr. Watson has served as a member of the board of directors of Norwest Bank
Corporation (NYSE:NOB) and the Visiting Committee of Harvard Business School.
He has served as chairman of the board of the Associated Merchandising
Corporation and the Minneapolis Downtown Council, and is a trustee of the Walker
Art Center. Mr. Watson has a B.A. from Williams and an M.B.A. from Harvard
University.
William J. Podany
Mr. Podany has more than 25 years of experience in the retail business,
moving rapidly through buying, store operations, divisional and general
merchandise management, and for the last 18 years, he has held senior management
positions for department store groups such as Carter Hawley Hale, a
California-based federation of four department store chains, including Broadway
Stores; O'Neil's, Sibley's and Thalhimers, all divisions of May Department
Stores; and the Cain Sloan and Millers divisions of Allied Stores.
(more)
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Mr. Podany joined ShopKo in 1994 as executive vice president and has
overall responsibility for merchandising, store operations, logistics, planning
and replenishment and external and in-store marketing. He was promoted to chief
operating officer in 1996. Mr. Podany has a B.A. from the University of
Minnesota.
ShopKo Stores, Inc. is a leading regional operator operating 130 stores and
four freestanding optical centers in 16 states, concentrated in the Upper
Midwest, Western Mountain and Pacific Northwest states and ProVantage, Inc.,
which specializes in prescription benefit management (PBM), vision benefit
management (VBM) and health information technology (HIT). ShopKo stock is traded
on the New York Stock Exchange under the symbol "SKO."
SOURCE ShopKo Stores, Inc.
-0- 6/10/97
/CONTACT: Sheree Olson, director of public relations of ShopKo Stores,
Inc., 414-496-4186/
/ShopKo press releases available through Company News On-Call by fax, 800-
758-5804, ext. 103639, or at http://www.prnewswire.com/
(SKO SVU DH NOB)
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