Kmart has yanked from its racks a supermarket tabloid that skewers Martha Stewart in a cover story slicing and dicing the merchandising maven as "Martha the Monster," The Post has learned.

The beleaguered retail chain, which filed for Chapter 11 in January, is counting on its exclusive Martha Stewart Everyday line of patio furniture, cookware, bedding and baby items to help pull it out of bankruptcy.

This week's issue of the Globe features an article quoting sources the tabloid says had "sneak peeks" at the new tell-all book about Stewart, "Martha Inc.," by Post business columnist Christopher Byron.

"New book rips lid off domestic diva's lies & dirty tricks," the Globe proclaims on its front page under the headline "Mean Martha Stewart Exposed!" A headline inside calls her "Martha the Monster."

Kmart corporate spokeswoman Nicole Dowswell confirmed that "this week's issue of the Globe will not be available for sale in Kmart stores."

But she declined comment when asked why.

One source told The Post that Stewart's representatives and the Kmart chairman's office spoke Monday morning, and by 1 p.m., all copies of the Globe had been taken off the racks at the chain's more than 1,800 stores.

A spokeswoman for Stewart could not be reached by press time.

The Post obtained a copy of an e-mail sent to distributors Monday morning by Source Interlink Companies, a provider of magazine information and management services whose clients include Kmart.

"Kmart has requested the current issue of Globe be removed from the stores immediately," the e-mail said. "The issue contains a very negative article about Martha Stewart."

A spokesman for Source Interlink declined comment, saying company policy "is one of confidentiality" for clients.

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