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47-580: Stone Road Mall first opened in 1975 with a Kmart , Miracle Food Mart, and 35 other stores. In 1978 it doubled to 70 stores, including Sears. The shopping centre finished an expansion and remodelling of the western section of the mall. There is an ongoing expansion and remodelling of the eastern area of the mall. The Sears store closed in January 2018 due to its bankruptcy and liquidation. 43°31′08″N 80°14′17″W  /  43.519°N 80.238°W  / 43.519; -80.238 This article about

94-431: A Kmart. The 4,000 sq ft (370 m ) store-within-a-store opened inside the former garden department of a Birmingham, Alabama, Kmart. It was two-thirds the size of the appliance department in most Sears stores, but larger than the 2,500 sq ft (230 m ) appliance department in remodeled Kmart stores. In October 2009, it was reported that Kmart and Martha Stewart Living Omnimedia failed to come to

141-528: A building or structure in Ontario is a stub . You can help Misplaced Pages by expanding it . This article about a Canadian shopping mall is a stub . You can help Misplaced Pages by expanding it . Kmart (United States) Physical stores: US Virgin Islands , Guam , Miami area Kmart ( / ˈ k eɪ m ɑːr t / KAY -mart ), formerly legally registered as Kmart Corporation , now operated by Transformco ,

188-585: A company spokesman who has often spoken on behalf of Kmart, said, "Store closures are part of a series of actions we're taking to reduce on-going expenses, adjust our asset base and accelerate the transformation of our business model." On October 10, 2014, Kmart was a victim of a data breach concerning customers' credit and debit card information. On October 19, Kmart stated, "Based on the forensic investigation to date, no personal information, no debit card PIN numbers, no email addresses and no social security numbers were obtained by those criminally responsible. There

235-552: A five-and-dime store in Memphis, Tennessee . He jointly owned the first store with his former tinware customer, John McCrory . Kresge and McCrory added a second store in downtown Detroit the following year. These were the first S.S. Kresge stores. After two years of partnership , he traded McCrory his share in the Memphis store, plus $ 3,000, for full ownership of the Detroit store, and formed

282-407: A high dividend, which reduced the amount of money that was available for improving its stores. Many business analysts also faulted the company for failing to create a coherent brand image. In September 1995, Kmart sold its money-losing in-store auto repair centers to Penske Corporation for $ 112 million to operate them as Penske Auto Centers . Penske later closed the auto repair centers in 2002 as

329-436: A loan of $ 5 million (equivalent to $ 8.47 million in 2024). In a scandal similar to that involving Enron , Conaway and Schwartz were accused of misleading shareholders and other company officials about the company's financial crisis while making millions and allegedly spending the company's money on airplanes, houses, boats and other luxuries. At a conference for Kmart employees on January 22, Conaway accepted "full blame" for

376-477: A new agreement. This came after Stewart made remarks on CNBC that her line at Kmart had deteriorated, particularly after the Sears merger. In November 2009, Kmart reported its first year-over-year sales increase of 0.5% since 2005, and only the second such increase since 2001. On December 27, 2011, Sears Holdings announced that 100 to 120 Sears and Kmart stores would close. In 2014, news reports indicated that Kmart

423-526: A new, exclusive, cross-promotional clothing brand called Attention. Attention was launched as a new clothing brand that would be sold only at Kmart stores and would be used to promote E! News Live . Kmart had previously signed a similar deal with the WB Network to have the cast of five WB shows wear Kmart branded clothing during shows. On November 8, 2004, Kmart launched the Kmart Rewards credit card that

470-418: A now-defunct chain of Kmart supermarkets , opened in that decade. Though the store chain continued to open Kmart branded stores, the store chain was still officially known as S.S. Kresge Company. Company founder Kresge died on October 18, 1966, at age 99. Around the time of the opening of the first Kmart, some poorly performing S.S. Kresge stores were converted to a new "Jupiter Discount Stores" brand, which

517-514: A phrase which became a pop culture reference. The original concept for the Blue Light Special was a limited-time offer to sell slower-moving merchandise. The sale was first introduced in 1965 and was retired in 1991. Starting in the 2000s, Kmart would repeatedly bring back the Blue Light Special. This was done first in 2001, but was discontinued again in 2002. The sale was briefly revived in 2005, though Kmart at that time had no plans to use

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564-466: A planned major restructuring, in which Kmart would invest in new customer check-out and new inventory management technology and other related systems. In 2001, Kmart opened several new Super Kmart stores as part of Kmart's plan to expand their Super Kmart Center store portfolio and make groceries available at stores. However, Kmart having filed for bankruptcy in January 2002, the company was unable to open any new Super Kmart Center stores, and construction

611-465: A result of a payment dispute with Kmart. In 1997, Kmart launched the Kmart Cash Card as a replacement for the paper gift certificates and to facilitate the return process. 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 converted 150 regular Kmart stores into Big Kmart stores during

658-432: A significant amount of Kmart's outstanding debt was purchased by ESL Investments , a hedge fund controlled by Edward Lampert . Lampert worked to accelerate the bankruptcy process. On January 13, 2003, Kmart closed 326 stores due to a lack of profitability and poor 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

705-404: A subsidiary of Transform SR Brands LLC , a privately held company that was formed in 2019 to acquire assets from Sears Holdings. S. S. Kresge , the founder of the company that would become Kmart, met variety-store pioneer Frank Winfield Woolworth while working as a traveling salesman and selling to all 19 of Woolworth's stores at the time. In 1897, Kresge invested $ 6,700 saved from his job into

752-412: A vision to convert the retail chain into a discounter . At the time, Cunningham was sharply criticized by some, including Kresge shareholders, as possibly destroying the company. The success of Kmart proved his vision. He was president of the company from 1959 to 1972, having joined the retailer as an assistant store manager in 1930. Cunningham was credited by Sam Walton as being the first to design

799-687: Is a department store chain, and a current online retailer in the United States and its territories and operates five remaining Kmart big-box department stores — three in the US Virgin Islands and one each in Kendale Lakes , Florida (Miami postal address); and Tamuning , Guam . Before 2018 Kmart owned and operated a much larger chain of Kmart stores. The company is headquartered in Hoffman Estates, Illinois , United States. The company

846-604: Is also no evidence that kmart.com customers were impacted. This data breach has been contained and the malware has been removed. I sincerely apologize for any inconvenience this may cause our members and customers." In April 2016, Kmart announced that it was liquidating 68 stores. The chain announced in September 2016 that 64 more stores in 28 states would close by mid-December 2016. Sears Holdings CEO Eddie Lampert stated in October 2016 that there were not and never had been plans to close

893-492: Is managed by HSBC Bank . On November 17, 2004, Kmart's management announced its intention to purchase Sears for $ 11 billion. As part of the merger, the Kmart Holding Corporation (the company that owns Kmart) would be transferred to the new Sears Holdings Corporation and Sears would be purchased by the new Sears Holdings Corporation. The new corporation announced that it would continue to operate stores under both

940-477: The NASDAQ stock market with the ticker symbol of KMRT with Lampert serving as the chairman and with ESL Investments controlling 53% of the new company for an investment of less than $ 1 billion. Lampert dismissed his concerns that the smaller company would be at a disadvantage, stating "The focus that a lot of people have in retail revolves around sales, but sales without profit do not allow a business to be successful in

987-657: The "Orange" prototype in 2005. In 2006, the typical white and blue interior of the stores was changed to orange and brown, and shelf heights were lowered to create better sightlines. The remodeled stores contain an appliance department with Kenmore Appliances and most have hardware departments that sell Craftsman tools, which prior to the merger had been exclusive to Sears stores. Some auto centers left vacant by Penske after Kmart filed for bankruptcy had been converted to Sears Auto Centers. As of 2009, 280 stores had been remodeled to this new prototype. In July 2009, Sears Holdings opened its first Sears-branded appliance store inside

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1034-633: The Big Kmart stores were successful, and by the end of 1997, Kmart sales numbers had grown by 10% thanks to their Big Kmart stores. In 1998, Kmart acquired 45 former Venture stores and converted them into Big Kmart stores. By the end of 1998, 62% of Kmart's stores were Big Kmart stores. Kmart converted nearly 1,900 of their regular Kmart stores into Big Kmart stores in 1999, resulting in further improvements in sales figures. The last Big Kmart in Marshall, Michigan , closed on November 22, 2021. The Sports Authority

1081-666: The Kmart format and that they are working hard to make it a "more fun, engaging place to shop, powered by our integrated retail innovations and Shop Your Way". In December 2016, at least 25 Kmart locations were targeted for closure in early 2017. Harry Cunningham (businessman) Harry B. Cunningham (1907 in Pennsylvania – November 11, 1992 in North Palm Beach , Florida) was an American businessman and retailer who founded Kmart in 1962, along with S. S. Kresge . Cunningham had

1128-419: The Kmart stores to other companies it had acquired or created, such as Sports Authority , Builders Square , and Waldenbooks . The Blue Light Special was a sale promotion within the store for a short period within store hours only. It was advertised using a rotating blue light, in the same style a police car used, and was announced over the store public address system with the phrase "attention Kmart shoppers",

1175-694: The Kresge & Wilson Company with his brother-in-law, Charles J. Wilson. In 1912, Kresge incorporated the S.S. Kresge Company in Delaware with 85 stores. In 1916, Kresge incorporated a new S.S. Kresge Company in Michigan and took over the operations of the original company; the new company in Michigan is the modern day 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

1222-658: The Medina and Copley stores opened, many more Super Kmarts opened nationwide. The largest super Kmart store was in Euclid, Ohio, as it was a former Hypermart. Big Kmart opened in Chicago, Illinois, on April 23, 1997. The format focuses on home fashions, children's apparel, and consumables (The Pantry). Most Kmart stores were remodeled to this format during the late 1990s and the early 2000s. During 1997 and 1998, Kmart converted 1,245 of their regular Kmart stores into Big Kmart stores. Initially,

1269-551: The Sears and Kmart brands. Around this time, Kmart changed its logo from a red K with the script "mart" inside, to the same K with the chain's name in lowercase letters below it. Kmart's headquarters were relocated to Hoffman Estates, Illinois, and in 2012 the sprawling headquarters complex in Troy, Michigan, was acquired by the Forbes Company, which owns the nearby upscale mall, Somerset Collection . No concrete plans for redevelopment of

1316-425: The company's "Dare to Compare" advertising campaign inaccurately compared its own prices with those of Target a majority of the time on in-store signs. On January 22, 2002, Kmart filed for Chapter 11 bankruptcy protection under the leadership of its then-chairman Charles Conaway and president Mark Schwartz. Conaway, who successfully expanded CVS Corporation , accepted an offer to take the helm at Kmart along with

1363-895: The company's most recognized spokespersons. Super Kmart Center (Super Kmart) opened an all-new location on July 25, 1991, in Medina Township, Ohio , featuring a full-service grocery with a full-service deli, seafood counter and bakery. It also had general merchandise like many Kmarts had. However, this location was downsized in 2011 and was one of a number of Kmarts closed in early 2012 following poor Christmas 2011 sales. The second ground-up Super Kmart Center opened in Copley Township, Ohio , featuring an in-store video rental center, and an in-store carryout Chinese restaurant. This location has also shut down. The last Super Kmart Center in Howland Township, Ohio , closed on April 8, 2018. After

1410-463: The concept long-term. Blue Light Specials were revived again in 2009 on Saturdays, offering surprise hour-long sales on selected merchandise, but they were again discontinued. Blue Light Specials were revived once again in November 2015. In 1990, in an effort to update its image, Kmart introduced a new logo. It dropped the old-style italic "K" with a turquoise "mart" in favor of a red block letter K with

1457-675: The financial disaster. As Kmart emerged from bankruptcy, Conaway was forced to step down, and was asked to pay back all the loans he had taken. After dismissing Conaway and Schwartz, Kmart closed more than 300 stores in the U.S., including all the Kmart stores in Alaska, and laid off around 34,000 workers as part of the restructuring process. Kmart introduced five prototype stores with a new logo, layout, and lime green and gray color scheme, one in White Lake, Michigan , and four in central Illinois: ( Peoria , Pekin , Morton and Washington ). The new layout

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1504-772: The first half of 2000. In 2000, Kmart and Capital One launched an all-new co-branded MasterCard as a replacement for the private label Kmart credit cards. Also in 2000, Kmart expanded the Martha Stewart Everyday Garden Collection to include live plants and seeds. Kmart also launched the Martha Stewart Everyday Kitchen, which is a complete line of housewares essentials. In July 2000, Kmart closed 72 underperforming stores, while opening 20 new Big Kmart stores, converting 12 regular Kmart stores into Super Kmart Center stores, and opening 5 new Super Kmart Center stores. The company announced

1551-552: The in-store cafeteria at the store in Canton, Michigan , was converted to a Wendy's . Until November 1990, when it was passed by Walmart, Kmart was the second-largest retailer in the United States, after Sears. During the 1980s, the company's fortunes began to change; many of Kmart's stores were considered to be outdated and in decaying condition. In the late 1980s and into the 1990s, the corporate office shifted much of its focus from

1598-419: The limit on prices in his stores to $ 1. By 1924, Kresge was worth approximately $ 375 million and owned real estate of the approximate value of $ 100 million. Growth early in the 20th century remained brisk, with 257 stores in 1924, rising to 597 stores by 1929. Kresge retired as president in 1925, continuing as the company's chairman. The Great Depression reduced profitability and resulted in store closings, but

1645-479: The long term." He began to improve the company's balance sheet by reducing inventory, cutting costs, and closing underperforming stores. By the fourth quarter of 2003, Kmart posted its first profitable quarter in three years, although it has since returned to an operating loss. On July 23, 2004, a new Kmart logo featuring a large red "K" with "kmart" in small block letters underneath it was announced. On August 12, 2004, Kmart and E! Entertainment Television announced

1692-413: The number rose to 682 in 1940. After the war, shopping patterns changed and many customers moved out of the cities into the suburbs. Under the leadership of executive Harry Cunningham , S.S. Kresge Company opened the first Kmart-named store, at 27,000 square feet (2,500 square meters), which was referred to by Kresge as a "bantam" Kmart and was in fact originally intended to be a Kresge store until late in

1739-532: The planning process, on January 25, 1962, in San Fernando, California , just six months before the first Walmart opened, while the first ground-up full-size Kmart with 80,000 square feet (7,400 square meters), opened on March 1, 1962, in Garden City, Michigan . Cunningham and Sam Walton were both inspired by Ann & Hope , which they each visited in 1961. Sixteen more Kmart stores opened in 1962. Kmart Foods,

1786-707: The short-lived name Today's Kmart . In 1991, the company revised its name slightly to Kmart Corporation . In 1992, Kmart entered the Eastern European market with the purchase of 13 stores in the former Czechoslovakia. These stores were sold off in 1996. The company also began to offer exclusive merchandise by Martha Stewart , Kathy Ireland , Jaclyn Smith , Lauren Hutton , and Thalía . Other recognizable brands included exclusively licensed merchandising of products relating to Sesame Street and Disney . Actress and television personality Rosie O'Donnell and actress/director and producer Penny Marshall became among

1833-466: The site had been announced. In 2005, Sears Holdings Corporation introduced the Sears Essentials store format, which would serve as a Kmart-Sears hybrid. Sears Essentials stores were freestanding (not located at a shopping mall) stores. In 2006, the company discontinued the Sears Essentials name, and renamed all of the Sears Essentials stores as Sears Grand stores. Kmart started remodeling stores to

1880-550: The word "mart" written in script and contained inside the "K". Kmart then began remodeling stores shortly thereafter. This logo was replaced in 2004 with the current logo. In 1990, Little Caesars Pizza opened its first in-store Kmart restaurant in Rochester, Michigan (coincidentally, Little Caesars and Kmart were both founded in Garden City, Michigan, in 1959 and 1962 respectively). In 1995, Kmart also tried to reinvent itself by using

1927-407: Was acquired by Kmart in 1990 and spun off five years later. Kmart's profitability and sales peaked in 1992, and the later decline is attributed to competition with Walmart, Target, and internet shopping. In 1994, Kmart announced they would close 110 stores. Unlike its competitors Walmart and Target, Kmart failed to invest in computer technology to manage its supply chain. Furthermore, Kmart maintained

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1974-531: Was conceived as a bare-bones, deep discount outfit. During the 1970s, Kmart put a number of competing retailers out of business. Kresge, Jupiter and Kmart stores mainly competed with other store chains like Zayre , Ames , Bradlees , Caldor , Hills , and those that were operated by MMG-McCrory Stores (McCrory, McLellan, H.L. Green, J.J. Newberry, S.H. Kress, TG&Y, Silver's and eventually G.C. Murphy Co.). In 1977, S.S. Kresge Company changed its name to K Mart Corporation . In 1980, Vice Chairman Bernard M. Fauber

2021-592: Was elected as the chairman and as the CEO of Kmart. In 1981, the 2,000th Kmart store opened. By the end of 1981, there were 2,055 Kmart stores across the United States and Canada. In 1987, the Kmart Corporation sold its remaining 76 Kresge and Jupiter stores in the United States to McCrory Stores, and the brands were almost entirely discontinued, although Canadian Kresge and Jupiter stores continued to operate until 1994. Kmart experimented with co-branding in 1985, when

2068-412: Was halted on others, no matter how close the stores were to completion. In 2001, Kmart signed a $ 4.5 billion arrangement with Fleming , making them the sole food and consumables distributor for the company's stores. In February 2001, Japanese video game company Sega sued Kmart for failure to pay $ 2.2 million of $ 25.9 million for Dreamcast game systems. In August 2001, Target sued Kmart because

2115-453: Was incorporated in 1899 as S. S. Kresge Corporation and renamed Kmart Corporation in 1977. The first store with the Kmart name opened in 1962 in Garden City, Michigan . At its peak in 1994, Kmart operated 2,486 stores globally, including 2,323 discount stores and Super Kmart Center locations in the United States. From 2005 through 2019, Kmart was a subsidiary of Sears Holdings Corporation , which owns Sears . Since 2019, Kmart has been

2162-607: Was liquidating dozens of stores across the United States. Kmart's parent company, Sears Holdings Corporation, underwent financial distress throughout the year, sparking an unspecified number of closings of Sears and Kmart locations amid vendors' and lenders' concerns about its liquidity. Along with store closings, measures included the spinning off its Lands' End division, selling most of its stake in Sears Canada, issuing debt and taking on loans that cumulatively put it on track to raise $ 1.445 billion in cash in 2014. Howard Riefs,

2209-414: Was touted as having wider aisles and improved selection and lighting, and the city or town's name was featured under the new Kmart logo at the front entrance. However, Kmart could not afford a full-scale rollout. The lime green prototype was abandoned for the new Kmart "Orange" concept that rolled out at several of its locations throughout the United States in 2006. While Kmart was going through bankruptcy,

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