Kmart Corporation (known only as Kmart and styled as kmart ) is a large chain of American box stores headquartered in Hoffman Estates, Illinois, USA Union.. The company was founded in 1888 as S. S. Kresge Corporation and renamed Kmart Corporation in 1977. The first store by the name of Kmart opened in 1962. At its peak in 2000, Kmart operates 2,171 stores including 105 locations of Super Kmart Center. The chain management bought Sears for $ 11 billion in 2004, forming a new company under the name Sears Holdings Corporation; Kmart was transferred to the new Sears Holdings Corporation. For the fiscal year 2005 under the new company, the number of Kmart stores was at 1,416 with only 55 Super Kmart Center locations. As of May 2018, Kmart chain stores have 365 store locations. This amount will decrease after the closing round of the store in the future. The last Super Kmart Center in Warren, Ohio is closed on April 8, 2018. Kmart currently operates a number of very rare stores in 45 states, Puerto Rico, the Virgin Islands and Guam (which houses the world's largest Kmart). Kmart previously operates stores in Canada, Mexico, Singapore, and in Eastern Europe.
In popular culture, Kmart is known as "Blue Light Specials." This happens in moments of surprise when a shopkeeper will turn on a moving police light and offer discounts at certain departments of the store, while announcing a special discount on the store's public address system. At the peak of Kmart's popularity, the phrase "Attention, buyer Kmart!" entered into the American pop spirit, appearing in movies and other media such as Troop Beverly Hills , Six Days Seven Nights , Rain Man , Beetlejuice , Madea Goes to Jail , and Dawn of the Dead .
Kmart headquarters is located in Troy, Michigan, on Metro Detroit. After the completion of Sears' purchase, the headquarters has been located in Hoffman Estates, Illinois, a suburb of Chicago. An independent entity that calls itself Kmart operates in Australia and New Zealand (see Kmart Australia) but no longer has contact with American stores except its name.
Video Kmart
History
Initial years
S. S. Kresge, founder of the company that will be Kmart, met with pioneers of Frank Winfield Woolworth's shops while working as a traveling salesman and selling to 19 Woolworth stores at the time. In 1897 Kresge invested $ 6,700 saved from his job to a five-and-a-dime store in Memphis, Tennessee. He together owns the first store with his former customer, John McCrory. Kresge and McCrory added a second store in downtown Detroit the following year. This is a S.S. store. Kresge first. After two years of partnership, he trades McCrory's stake in the Memphis store, plus $ 3,000, for full ownership of the Detroit store, and forms Kresge & Wilson Company with his brother-in-law, Charles J. Wilson.
In 1912, Kresge founded S.S. Kresge Company in Delaware with eighty-five stores. In 1916, Kresge founded the Kresge Company S.S. new in Michigan and take over the operations of the original company; the new company in Michigan is a modern Kmart company. The company was first listed on the New York Stock Exchange on May 23, 1918. During World War I, Kresge experimented with raising the price limit on his store to $ 1. In 1924, Kresge was worth about $ 375 million and owning real estate with a value of about $ 100 million. The early growth of the 20th century remained fast, with 257 stores in 1924, rising to 597 stores in 1929. Kresge retired as president in 1925. The Great Depression reduced profitability and resulted in store closures, with the number reduced to 682 in 1940. After the war, shopping patterns changed and many customers moved from city to suburb. The Kresge Company followed them and closed and merged many urban stores; in 1954, the number of stores in the US has dropped to 616.
1960s-1970s
Under the leadership of Harry Cunningham, S.S. Kresge Company opened a store called Kmart first on March 1, 1962, in Garden City, Michigan, just four months before the first Walmart was opened. The store is no longer in operation by March 2017. The Eighteen Kmart store opened that year. Kmart Foods, Kmart supermarket chain that is now dead, opened in the decade. Although chain stores continue to open Kmart branded stores, chain stores are still officially called S.S. Kresge Company.
The founder of the company Kresge died on October 18, 1966.
Around the first Kmart opening time, some stores S.S. Kresge performs poorly transformed into a brand new "Jupiter Discount Store", which is conceived as bare-bones, deep discounted clothing. During the 1970s, Kmart put a number of retailers competing outside the business. Kresge, Jupiter, and Kmart stores mainly compete with other chain stores such as Zayre, Ames, Bradlees, Hills, and operated by MMG-McCrory Stores (McCrory, McLellan, HL Green, JJ Newberry, SH Kress, TG & Y, Silver's and finally GC Murphy Co.). In 1977, S.S. Kresge Company changed its name to K Mart Corporation .
1980s
In 1980, Vice Chairman Bernard M. Fauber was elected Chairman and CEO of Kmart.
In 1981, the 2nd Kmart shop opened. By the end of 1981, there were 2,055 Kmart stores throughout the United States, Canada, and Puerto Rico.
In 1987, Kmart Corporation sold the remaining 76 Kresge and Jupiter stores in the United States to the McCrory Shop, and the brand was almost entirely discontinued, although the Kresge and Jupiter stores in Canada continued to operate until 1994.
Kmart experimented with co-branding in 1985, when the canteen in store at a shop in Canton, Michigan, was changed to Wendy.
Until November 1990, when passed by Walmart, Kmart was the second largest retailer in the United States, after Sears. During the 1980s, corporate wealth began to change; many Kmart stores are considered outdated and in decaying condition. In the late 1980s and into the 1990s, the company's office shifted much of its focus from Kmart stores to other companies it had acquired or created, such as Sports Authority, Square Builder, and Waldenbook.
The original Blue Light Special, first introduced in 1965, was retired in 1991. The company brought back Blue Light Special in 2001, but again stopped it in 2002. The concept was revived in 2005, although Kmart at the time it has no plans. using long-term concepts. Blue Light Specials was revived again in 2009 on Saturday, offering an hour-long surprise sale on selected items, but stopped again. Blue Light Specials is revived once again in November 2015.
1990-2001: New image
In 1990, in an effort to renew its image, Kmart introduced a new logo. It drops the old-style "K" italic with "mart" turquoise that supports the red letter K with the word "mart" written in the script and contains inside "K". Kmart then began renovating the shops shortly thereafter. The logo was replaced in 2004 with the current logo. In 1990, Little Caesars Pizza Station opened its first restaurant in Kmart in Rochester, Michigan. Incidentally, both Little Caesars and Kmarts were founded in Garden City, Michigan in 1959 and 1962 respectively. In 1995, Kmart also tried to change himself by using the short-lived name Kmart today .
In 1991, the company changed its pronunciation to Kmart Corporation .
In 1992, Kmart entered the Eastern European market with the purchase of 13 stores in the Czech Republic and Slovakia. These stores were then sold in 1996.
The company also began offering exclusive merchandise by Martha Stewart, Kathy Ireland, Jaclyn Smith, Lauren Hutton, and ThalÃÆ'a. Other recognizable brands include exclusive merchandising products related to Sesame Street and Disney. Television actress and personality Rosie O'Donnell and actor/director and producer Penny Marshall became one of the most recognized corporate spokespeople.
Super Kmart Center (Super Kmart) opened a new location in 1991 in Medina, Ohio, featuring a grocery store and general merchandise. However, this location was downsized in 2011 and is one of a number of Kmarts that were closed in early 2012 due to the gloomy Christmas 2011 sales. The second underground Super Kmart Center opened in Montrose, Ohio, featuring in-store video and in-house Chinese restaurant rental. This location has also been closed. The last Super Kmart Center in Warren OH is closed on April 8, 2018.
Big Kmart opened in Chicago, Illinois, on April 23, 1997. The format focuses on home modes, children's clothing, and consumables (The Pantry). Most Kmart stores were overhauled into this format during the late 1990s and early 2000s. During 1997 and 1998, Kmart converted 1,245 of their regular Kmart stores into Big Kmart stores. Initially, the Big Kmart stores have proved very successful, and by the end of 1997, Kmart had seen their sales figures grow by 10% due to the success of their Big Kmart stores. In 1998, Kmart acquired 45 former Venture stores and turned them into Big Kmart stores. By the end of 1998, 62% of Kmart stores were Big Kmart stores. Kmart then converted nearly 1,900 of their regular Kmart stores to Big Kmart stores in 1999. By the end of 1999, Kmart had once again seen another increase in sales figures of 6.5% due to the success of their Big Kmart stores.
The Sports Authority was purchased by Kmart in 1990 and split five years later.
The profit and sale of Kmart peaked in 1992, and has since declined due to competition with Walmart, Target, and Internet shopping. In 1994, Kmart closed 110 stores. Unlike competitors Walmart and Target, Kmart failed to invest in computer technology to manage its supply chain. Furthermore, Kmart maintains a high dividend, which reduces the amount of money available to increase his shop. Many business analysts also blame the company for failing to create a coherent brand image.
In September 1995, Kmart sold his money by losing a $ 112 million in-store reparation center to Penske Corporation to operate it as Penske Auto Centers. Penske then closed the car repair center in 2002 as a result of a payment dispute with Kmart.
In 1997, Kmart launched Kmart Card Cards in lieu of paper gift certificates and facilitated the process of return.
In July 1999, Kmart hired SuperValu and Fleming to distribute $ 3.9 billion worth of food and other related products to all Kmart stores.
From 1999 to 2000 Kmart opened 20 new Big Kmart stores, converted 12 regular Kmart stores into Super Kmart Center stores, and opened 5 new stores Super Kmart Center. Kmart also converted 150 regular Kmart stores into Big Kmart stores during the first half of 2000.
In 2000, Kmart and Capital One unveiled a new MasterCard co-brand in place of Kmart's private credit card.
Also in 2000, Kmart has expanded Martha Stewart Everyday Garden Collection to include live crops and grains. Kmart also launches Martha Stewart Everyday Kitchen, which is a complete suite of household appliances.
In July 2000, Kmart closed 72 stores underperforming due to poor sales, and the company announced that it is planning a major restructuring process, in which Kmart will invest in new customers and new inventory management technologies and other related systems as well..
In 2001, Kmart has opened several new Kmart Super Center stores as part of Kmart's plans to expand their Kmart Super Center store portfolio, along with Kmart who tries to make groceries available in stores as well. However, because Kmart filed for bankruptcy in January 2002, Kmart could not open more new Kmart Super Center stores, and every Kmart Super Center store under construction during the Kmart bankruptcy of 2002 was stopped, no matter how close the store was.
In 2001, Kmart signed a $ 4.5 billion agreement with Fleming, making them the only distributor of food and consumables for the company's stores.
In February 2001, Japanese video game company Sega sued Kmart for failing to pay $ 2.2 million for $ 25.9 million for the Sega Dreamcast game system.
In August 2001, Target sued Kmart for the "Dare to Compare" advertising campaign inaccurately comparing its own prices with the Target's target most of the time on in-store signs.
2002-2009: Close and merge with Sears
On January 22, 2002, Kmart filed for Chapter 11 Bankruptcy protection under the chairmanship of then chairman Charles Conaway and president Mark Schwartz. Conaway, who has managed to build a CVS Corporation, accepted an offer to take over at Kmart along with a loan of $ 5 million (equivalent to $ 6.8 million in 2018). In a scandal similar to that involving Enron, Conaway and Schwartz are accused of misleading shareholders and other corporate officials about the company's financial crisis while making millions and allegedly spending company money on planes, homes, ships and other luxury items. At a conference for Kmart employees on January 22, Conaway received a "complete mistake" over a financial disaster. When Kmart came out of bankruptcy, Conaway was forced to resign, and was asked to pay back all the loans he took.
After dismissing Conaway and Schwartz, Kmart shut down more than 300 US stores, including all Kmart stores in Alaska, and laid off some 34,000 workers as part of the restructuring process. Kmart introduced five prototype stores with new logos, layouts, and green and gray schemes, one in White Lake, Michigan, and four in central Illinois: (Peoria, Pekin, Morton and Washington). The new layout is mentioned to have a wider aisle and better selection and lighting, and the city or city name is displayed under the new Kmart logo at the front entrance. However, Kmart was unable to perform a full-scale launch. The lime green prototype was abandoned for the new Kmart "Orange" concept which was launched in several locations across the United States in 2006.
While Kmart went bankrupt, an enormous amount of Kmart's outstanding debt was bought by ESL Investments, a hedge fund controlled by Edward Lampert. Lampert works to speed up bankruptcy proceedings.
On January 13, 2003, Kmart shut down 326 stores for lack of profitability and bad sales.
On May 6, 2003 Kmart emerged from bankruptcy protection as a subsidiary of the new Kmart Holding Corporation. On June 10, 2003, Kmart began trading on the NASDAQ stock market with a ticker symbol KMRT with Lampert serving as chairman and with ESL Investments controlling 53% of new companies for investments of less than $ 1 billion. Lampert dismissed his concern that smaller companies would be harmed, stating "The focus that many people have on retailing revolves around sales, but a profitless sale does not allow businesses to succeed in the long run." He began improving the company's balance sheet by reducing inventories, slashing costs, and closing down on poorly performing stores. In the fourth quarter of 2003, Kmart posted a lucrative first quarter in three years, despite having returned to operational losses.
On August 12, 2004, Kmart and E! Entertainment Television has announced that all brand new exclusive cross-promotional alliance apparel called Attention. Attention is launched as an all-new clothing brand that will only be sold at Kmart stores and will be used to promote E! Live News. Kmart has previously signed a similar agreement with the WB Network to have players from five WB events wearing Kmart branded clothing during the show.
On November 8, 2004, Kmart launched a Kmart Rewards credit card managed by HSBC Bank.
On November 17, 2004, Kmart management announced its intention to buy Sears for $ 11 billion. As part of the merger, Kmart Holding Company will be transferred to the new Sears Holdings Corporation and Sears will be purchased by the new Sears Holdings Corporation. The new company announced it will continue to operate stores under the brands of Sears and Kmart. Around this time, Kmart changed his logo from K red with the "mart" script inside to the same K with the chain name in lower case. Kmart headquarters was moved to Hoffman Estates, Illinois, and in 2012 the headquarters complex in Troy, Michigan, was acquired by Forbes Company, which has a nearby upscale mall, the Somerset Collection. No concrete plans for site redevelopment have been announced. In 2005, Sears Holdings Corporation introduced the Sears Essentials store format, which should be like a Sears store and a Kmart store mixed together. The Sears Essentials store is also a freestanding store (not located in a shopping mall). In 2006, the company stopped the name Sears Essentials, and renamed all Sears Essentials stores as the Sears Grand store.
Kmart embarked on a store renovation to the "Orange" prototype in 2005. In 2006, the white and blue interior of the shops was transformed into orange and brown, and the rack height was lowered to create a better line of sight. The renovated stores contain an equipment department with Kenmore Appliances and most have hardware departments that sell Craftsman tools, which before the merger were exclusive to the Sears store. Some car centers were left vacant by Penske after Kmart filed for bankruptcy has been changed to Sears Auto Centers. 280 stores in 2009 have been renovated into this new prototype.
In July 2009, Sears Holdings opened its first Sears branded equipment store inside Kmart. The 4,000-square-foot store (370 m 2 ) inside the store is opened inside the former Department of Birmingham, Alabama, Kmart department. This is two-thirds the size of the equipment department in most Sears stores, but larger than the 2,500 square foot equipment department at the renovated Kmart store.
In October 2009, it was reported that Kmart and Martha Stewart Living Omnimedia failed to reach a new agreement. This came after Stewart made a statement on CNBC that his line at Kmart got worse, especially after the Sears merger.
In November 2009, Kmart reported its first year-on-year sales increase of 0.5% since 2005, and only the second increase since 2001.
2010-present: Advanced rejection
In 2010, Kmart closed 22 poorly performing stores due to poor sales and a large number of losses in profitability. During the first quarter of 2011, Kmart closed 35 other stores due to low profitability and poor sales. On December 27, 2011, after a disastrous holiday holiday season, Sears Holdings announced that 100 to 120 Sears/Kmart stores will be liquidated.
In 2014, news reports show that Kmart liquidated dozens of stores across the United States. Kmart's parent company, Sears Holdings Corporation suffered financial difficulties throughout the year, triggering a number of unspecified closures to Sears and Kmart's location amid concerns of vendors and lenders about their liquidity. Along with store closures, measures including spinning off of Lands' End division, selling most of its stake in Sears Canada, issue debt and take out loans that are cumulatively putting it on track to collect $ 1.445 billion in cash in 2014. Howard Riefs, a company spokesman who often spoke on behalf of Kmart, said, "Store closures are part of a series of actions we take to reduce ongoing costs, adjust our asset base and accelerate the transformation of our business model."
On October 10, 2014, Kmart became a victim of data breach related to customer's credit and debit card information. Kmart was confirmed on October 19, "Based on forensic investigations to date, no personal information, no debit card PIN number, no email address and no social security number obtained by those in criminal responsibility nor evidence that customer kmart.com is impacted.The violation of this data has been contained and the malware has been removed.I sincerely apologize for the inconvenience this may cause our members and customers. "
In January 2015, Kmart agreed to pay $ 102,048 and other considerations for settling the US Employment Commission inequality discrimination suit. According to the lawsuit, Kmart offers work at Hyattsville, Maryland store to a candidate with kidney disease during dialysis. Candidates advise recruitment managers that they can not provide a sample of urine for a mandatory pre-employment drug screening company because of their medical condition, and request reasonable accommodation such as blood tests or other drug tests that do not require urine samples; Kmart refused to provide an alternative test and refused the candidate's job. In April 2016, Kmart announced that it was liquidating 68 stores. The chain announced in September 2016 that 64 other stores in 28 countries will close by mid-December 2016. In December 2016, at least 25 Kmart locations are targeted for closure by early 2017.
In January 2017, Kmart announced that 78 other stores would be liquidated, including the first Kmart location in Garden City, MI. In May 2017, Kmart announced an additional 18 stores will close. Sears Holdings himself revealed the uncertainty about whether Sears and Kmart will survive. In early June 2017, Kmart announced an additional 49 stores across the United States planned to close in September 2017. Financial analysts now warn that Sears Holdings's fate is almost over. However, Sears Holdings CEO Eddie Lampert stated in October 2016 that there is no plan or plan to close the Kmart format and that they are working hard to make it "a more fun and exciting shopping venue, supported by our integrated retail, your innovations and Store Stores ". In early July 2017, Kmart has announced that 35 other stores will close in early October 2017. In late August 2017, Kmart announced the closing of 28 other stores. The only Rhode Island location in Cranston is between 28 store closures, removing all Kmarts from the state of Rhode Island. On October 11, 2017, without the sale of the closure, the Kmart store in Santa Rosa, California was apparently burned and destroyed by a massive forest fire in the Bay Area, adding to the list of closed stores. On October 17, 2017, Kmart announced the liquidation of several sites at the end of November, but has not disclosed the exact number of closing locations. On November 3, 2017, it was announced that 45 km (along with 18 Sears stores) are set to liquidate as part of another effective closing set in January 2018, including Kmart's last store in Alabama, in Albertville. This marks the removal of all Kmart stores in Alabama.
According to Fortune.com, Kmart, along with his sister company Sears, did not run television ads during the 2017 holiday season to focus on digital marketing and after evaluating the effectiveness of his marketing efforts. On January 4, 2018, after another disappointing holiday season, Kmart announced that 64 other stores would be liquidated in the spring of 2018. This included the remaining Kmart Super Kmart location in Warren, Ohio, which officially stopped the Super Kmart format. According to MSN Money, at this rate, Kmart, along with Sears' sister, has a very high chance of disappearing and going to death by 2018, and that 2017 will mark his last holiday season as an independent brand.
On March 15, 2018, Sears Holdings announced a small profit made in the fourth quarter of 2017. However, investors claim that due to tax returns and sales still fall for Kmart and Sears. On March 26, 2018, CEO Eddie Lampert himself said, "I'm not sure Kmart himself can be a great retailer," expressed the idea that companies are eagerly trying to switch to online shopping compared to bricks and mortars. store. On April 12, 2018, Sears announced plans to close and auction off 16 of its stores under Sears Brand, and close several Kmart locations again, but refused to tell the exact number in this closing round. Two known locations in the list include Kmart stores in Brandon, Florida, and Saugus, Massachusetts. In early May, Sears announced the liquidation of several Kmarts again, including the last Kmart in Vermont, at Bennington. Closure moved all Kmart stores from the state of Vermont.
On May 21, 2018, Sears Holdings announced another round of liquidation sales for Sears and Kmart stores in 24 states with a combined total of 40 stores. These stores are expected to close on July 4, 2018. Ten days later, on May 31, Sears Holdings announced the liquidation of 64 Sears and Kmart additional stores, 16 Kmart stores and 48 Sears stores, including the last Kmart in Hawaii, in Lihue, which means that Kmart will also move all of their stores in Hawaii, now leaving Kmart in a total of 5 states. The closure of May 31, 2018 was announced out of about 100 unprofitable stores in Sears Holdings and the remaining 28 unprofitable stores were, "a small group of stores withdrawn from the closing list... because they are being evaluated further," meaning more store closures can be anticipated later this year. Sears Holdings has not disclosed this location yet.
Maps Kmart
Company affairs
Headquarters
Kmart owner, Sears Holdings Corporation, has been based in Hoffman Estates, Illinois outside Chicago since 1993 when moving from Sears Tower in downtown Chicago. Kmart has been at Hoffman Estates Headquarters since Kmart bought Sears in 2005.
Kmart for Kids is an umbrella program for the Kmart philanthropic initiative. The program helps children across the country live happier, healthier through support: the March of Dimes, St. Jude Children Research Hospital, and the American Diabetes Association. Kmart is the No. 1 corporate sponsor of the March of Dimes, after collecting $ 114 million for the charity for over 30 years.
On July 29, 2008, Don Germano, SVP/GM of Kmart store, was elected for a five-year term at the National Board of Trustees of the March of Dimes Foundation.
Kmart for Kids supports Children's Research Hospital Jude through his annual Acknowledgments campaign, an opportunity for Kmart customers to be grateful for healthy children in their lives and giving to help those who do not. Kmart has been a campaign partner since 2006 and in December 2008 has raised more than $ 59.2 million (equivalent to $ 67.3 million in 2018). Jude's. The record $ 21.9 million (equivalent to $ 23 million in 2018) donated to the tenth annual fundraising campaign during the 2013 holiday season.
In 2008, Kmart was awarded the "Extraordinary Corporate Citizen" for his support of the "Diabetes Step-out: Walk to Fight Diabetes" program from the American Diabetes Association. Respect for Kmart for the most well-developed proactive programs in the fields of charity, Community development, Diversity, philanthropy, and association development. In 2008 Kmart became the national sponsor of "Step Out: Walk to Fight Diabetes" and for the past two years, Kmart customers and associates have raised approximately $ 1.5 million (equivalent to $ 1.82 million in 2018) through campaigns inside his store.
Environmental recordings
On May 9, 2007, Kmart was subject to a sanction of $ 102,422 (equivalent to $ 121,000 in 2018) for breach of hazardous federal waste, clean water, emergency planning and preparatory regulations in 17 distribution centers. Kmart corrects violations by preparing and implementing spill prevention controls and coping plans, applying for appropriate storm water permits, complying with hazardous waste requirements, and submitting reports to state and local emergency planning and response organizations informing them of the presence of hazardous substances. The Environmental Protection Agency also accused Kmart of not maintaining adequate information and failing to act in accordance with the requirements for storage and disposal of hazardous waste. For example, the EPA reported having found an unlabeled oil storage drum at a location in Falls, Pennsylvania.
Due to environmental awareness, Kmart promotes battery recycling. In 1990, Kmart even proposed an expenditure of approximately $ 80 million (equivalent to $ 150 million in 2018) on a full-page newspaper ad offering to recycle a $ 2,000 rubbish (equivalent to $ 4.00 in 2018) respectively.
In 2012, Kmart and Sears begin allowing customers who are members of their Shop Your Way Rewards program to receive email receipts, eliminating paper waste and reducing ink usage.
Animal welfare issue
In 2012, Mercy for Animals, a non-profit organization working against cruelty to livestock, infiltrated at Christensen Farms, a pig supplier to Kmart, Walmart, and Costco, obtained a hidden pig camera recording confined to a small coffin of pregnancy and child cruelty pork. In response to Mercy For Animals infiltration, Kmart announced it would begin requiring pork suppliers to stop pregnancy crates.
Racing sponsors
Kmart is a leading sponsor of NASCAR and the now defunct CART series. They are the old sponsor of Newman/Haas Racing, owned by actor Paul Newman and former racer Carl Haas. Their CART drivers include Nigel Mansell and father-son duo Michael and Mario Andretti. Michael Andretti and Mansell won the championship under the Kmart sponsorship, respectively in 1991 and 1993. The store also sponsors the Kmart 400 that NASCAR charges at Michigan and North Carolina Speedway. Lake Speed ​​collected Kmart's first win at NASCAR in 1988 at Darlington Raceway. Kmart sponsored triple champion Darrell Waltrip in 1999 and 2000, his last two full seasons. Recently, at NASCAR, Boris Said's # 60 No Fear Ford Fusion sponsored store in 2006.
International
Canada
Kmart has also been a major venue in Canada, with the opening of its first Kresge store in 1929. Kmart closed 5 Montreal stores and several other Quebec stores in 1983 due to corporate restructuring. Kresge ceased to exist in Canada in 1994. In December 1997, it was announced that 10 of the 122 existing stores would be closed. However, as a result of Kmart's ongoing financial difficulties, the Canadian division of 112 stores was sold to Zellers competitors from Hudson's Bay Company in May 1998, after the stores were closed or converted into Hudson's Bay Company brands, mostly Zellers.
Slogan
- Place of Deposit 1960s-1990
- Your Lowest Price is Kmart Price 1990-1998
Australia and New Zealand
The first kmart in Australia opened in 1969 in Burwood East, Victoria; the site was renovated in 2010 into a shopping mall known as Burwood One.
Kmart Australia was born from a joint venture between G.J. Coles & amp; Coy Limited (Coles) and S.S. Kresge Company, with Kresge owning 51% of the company's common shares. The first New Zealand store opened in Henderson in 1988. Kresge then exited the partnership. Since 2007, Australian and NZ Kmart stores are owned by Wesfarmers.
Europe
In 1992, Kmart bought several communist-era department stores in Eastern Europe, including 13 in the former Czechoslovakia purchased from the former Czechoslovak government. One of those stores is the old department store MÃÆ' J on NÃÆ'¡rodnÃÆ' T? ÃÆ'da in Prague. Many of these outlets are quite profitable, with the Bratislava location setting a single store sales record for the company. But the bigger Kmart problem in the US caught on with its European operations late this decade. In March 1996, Kmart Company announced that it had agreed to sell six Kmart stores in the Czech Republic and seven in Slovakia to Tesco PLC from the UK for approximately $ 117.5 million (equivalent to $ 183 million in 2018), to focus on core operations in North America.
Mexico
In the 1990s, Kmart opened four stores in Mexico, in partnership with Mexico's retailer, Liverpool. All the supercenters, and the locations of all the suburbs of Mexico City. About half of the store area is devoted to groceries, and this is part of stores similar to those in the US with some adjustments to the local market. This plus an unfinished store was sold in 1997 to the Mexican Mega hypermarket network (part of Comercial Mexicana) and remains open under that name, except the store in Tlalnepantla, which was destroyed in 2004 to build Costco.
Singapore
In 1994, Kmart opened a 104,000 square foot store in Marina Square Shopping Center under a joint venture with Metro (Private) Limited. The joint venture with Singapore was dissolved in 1996.
Caribbean
At the end of 2000, Kmart quietly embarked on a major expansion into the Caribbean where Wal-Mart and Target had no presence in many countries. Kmart began construction at Kmart Super in 2001 in Trindad and was suspended in 2002 at 80 percent completed. Plans for more shops in Trinidad will be built, as well as Millennium Heights in Barbados, five shops in the Dominican Republic, and potential foray into Jamaica. The unfinished Super Kmart store in Trinidad and Tobago is now the Tru Value Supermarket which is the largest supermarket.
Management
- S. S. Kresge, Founder (1899-1925, president, 1925-1966, CEO)
- Charles Belden Van Dusen (1925-1938, president)
- Robert R. Williams (1938-1946, president)
- D. C. Fisher (1946-1953, president)
- Franklin P. Williams (1953-1958, president)
- Harry Blair Cunningham (1959-1972, president and general manager; 1966-1972, CEO)
- Robert E. Dewar (1970, president, 1972-1980, CEO)
- Ervin Wardlow (1972, president)
- Bernard Fauber (1980-1987, chairman, CEO)
- Joseph E. Antonini (1987 - May 1995, CEO)
- Floyd Hall (June 1995 - April 2000, president, chairman, CEO June 1995-March 2002)
- Charles Conaway (2000 - 2002, chairman, CEO)
- Mark Schwartz (-January 2003, president, COO)
- James B. Adamson (2002 - January 2003, president, chairman, CEO;)
- Julian Day (March 2002, president, COO; January 2003 - September 2004, president, COO, CEO)
- Aylwin Lewis (October 2004 - December 2007, president, CEO)
- W. Bruce Johnson (January 2008 - February 2011)
- Herman Darling (March 2011 - December 2012)
- Edward S. "Eddie" Lampert (January 2013 - present)
See also
- Kmart Australia
- Sears Holdings Corporation
References
Bibliography
- Turner, Marcia Layton (2003). Four Kmart Deadly Sins: How Unable to Defame the American Icon . Hoboken, New Jersey: John Wiley & amp; Children. ISBN: 978-0-471-43593-8.
External links
- Official website (company)
- Official website (online store)
- Official website (mobile online store)
Source of the article : Wikipedia
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