Conaway to Wall St.: Expect Kmart to grow.(Kmart Corp. chief executive officer and chairman Chuck Conaway announces turnaround plans)(Brief Article)(Statistical Data Included)

NEW YORK - Kmart chairman and ceo Chuck Conaway told analysts Sept. 10 the company is setting its sights on the supermarket and drug channels as it targets opportunities for growth in a post-turnaround environment. Paramount to the company's growth initiative is the reformatting of more than 1,000 current discount stores to supercenters, a move which will result in an increased focus on high-frequency categories, such as consumables and commodities, as well as a determined effort to "turbo-charge food," Conaway said.

"Frequency is one of our issues," he said. "It's a Holy Grail to us."

Conaway insisted that management's efforts to "fix" Kmart are being …