Information AboutKmart |
| CATEGORIES ABOUT KMART | |
| companies established in 1899 | |
| companies based in michigan | |
| sears holdings corporation | |
| discount stores of the united states | |
| companies based in troy, michigan | |
| kmart | |
Kmart is a chain of Department Store s in the United States , Puerto Rico , the U.S. Virgin Islands , and Guam . The chain merged with Sears in 2005 , creating the Sears Holdings Corporation . Kmart also exists in Australia and New Zealand (see Kmart Australia ), although it now shares no current relation with the American stores except in name after US equity in the Australian business was purchased in the late 1970s. The company's business model makes it a direct competitor to Wal-Mart and Target . HISTORY Kresge Sebastian Spering Kresge opened his first five-and-dime store in 1899 in Detroit, Michigan. The Kresge chain grew to 85 stores by 1912 and would spawn Kmart in 1962 under acting president Harry B. Cunningham.http://www.kmartcorp.com/corp/story/general/corporate_history.stm Creation of Kmart The first Kmart store opened in 1962 in , Wal-Mart and Woolco .) A total of eighteen Kmart stores opened that year. Kmart Foods, a now defunct chain of Kmart Supermarkets , opened in that same decade. Kmart's world headquarters was located in Troy, Michigan in a sprawling complex which, since Kmart's relocation to Illinois, has been slated for demolition {Link without Title} . Kmart became known for its "Blue Light Specials." They occurred at surprise moments when a store worker would light up a mobile police light and offer a discount in a specific department of the store. The phrase "attention Kmart shoppers" also entered into the American pop psyche. During the 1970s, Kmart put a number of competing retailers out of business. In 1977, S. S. Kresge Corporation changed its name to Kmart Corporation. In 1987, the Kmart Corporation sold its remaining Kresge and Jupiter stores in the United States to McCrory Stores . Canadian Kresge stores continued to operate until 1994. Changes for Kmart with the word "mart" done in italics.]] During the 1980s, the company's fortunes began to change; many of Kmart's stores were considered to be outdated and in decaying condition.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 the Kmart stores into other companies it had acquired or created, such as The Sports Authority , Builders Square , and Waldenbooks . In 1990, in an effort to change their image, Kmart introduced a new logo (dropping the old-style italic "K" with a Turquoise "mart", created in the early-1970s), and renovated many stores. However, most stores were not re-modeled until the mid-1990s, and some have not been completely renovated to this day. This logo was replaced in 2004 with the current logo. In the early 1990s, Kmart tried to reinvent itself by using the short lived ''Today's Kmart'' name. The company also began to offer exclusive merchandise by Martha Stewart , Kathy Ireland , and Jaclyn Smith . Other recognizable brands included Sesame Street and Disney . Rosie O'Donnell and Penny Marshall were among the company's most-recognized spokespersons. Super Kmart and Big Kmart Kmart opened its first Super Kmart Super K's new phase will be to develop a more complete store with a broader mix , in 1991 in Medina, Ohio . The second Super Kmart opened in Montrose, Ohio , soon thereafter. Kmart also opened the first '''Big Kmart''' in Chicago, Illinois , on April 23 , 1997 . Many Kmart stores were converted to the Super Kmart concept, but most were converted to the Big Kmart concept. Blue Light Special and 1994 Closures The original Blue Light Special had disappeared in 1991 , due to changing consumer habits and misuse by individual stores (according to the company's official explanation). The company later brought back the Blue Light Special in the early-2000s, but within a few weeks, the program was scrapped. In 1994, Kmart closed 110 stores. Unlike its competitors Wal-Mart and Target, it failed to invest in computer technology to manage its Supply Chain . Furthermore, Kmart maintained a high Dividend , which reduced the amount of money available for improving its stores. Many business analysts also faulted the corporation for failing to create a coherent Brand image. Martha Stewart scandal and 9/11 impact
Two days after the Terror Attacks Of September 11, 2001 , Kmart stopped all sales of guns and ammunition, citing their concern for the safety of their customers. Numerous Kmart stores have since returned to selling shotguns and other hunting related firearms and ammunition. Bankruptcy or Chevron is formed within the logo. The name of the city or town is located at the front entrance of the stores underneath or beside this logo.]] On January 22 , 2002 , Kmart filed for Chapter 11 Bankruptcy protection; led into the bankruptcy by its then chairman Chuck Conaway and president Mark Schwartz. Conaway, who had success building up the CVS Corporation , had accepted an offer to take the helm at Kmart, along with a loan of some $5 million. Similar to the Enron scandal, Conaway and Schwartz were accused of misleading shareholders and other company officials of the company's financial crisis, while they were allegedly making millions and allegedly spending the company's money on airplanes, houses, boats and other luxuries. At a conference for Kmart employees January 22, Conaway accepted "full blame" for 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 United States and laid off around 34,000 workers as part of Restructuring the company. On May 6 , 2003 , Kmart officially emerged from bankruptcy protection as the Kmart Holdings Corporation and on June 10 , 2003 , it began trading on the NASDAQ as "KMRT." Kmart introduced five Prototype stores with a new logo, layout and color scheme (lime green and gray) with one in White Lake Township, Michigan , four in Peoria, Illinois , one in Washington, Illinois , and one in Morton, Illinois . The new layout was touted as having wider aisles, improved selection and lighting as well as the city or town's name under the newly created 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 nine test stores throughout the United States. Merger with Sears, Roebuck and Company See Also: Sears Holdings Corporation On November 17 , 2004 , Kmart announced its intention to purchase Sears, Roebuck And Company . As a part of the merger, the Kmart Holdings Corporation would change its name to Sears Holdings Corporation. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands. STORE CONCEPTS Current .]]
Former . While the concept was introduced in 1991, it was very similar to ''Kmart Foods''.]]
MASCOT AND SPOKESPERSON In May 2007 , Sears Holdings Corporation and Kmart named a new mascot and spokesperson for Kmart named Mr. Bluelight. Mr. Bluelight is a talking cartoonish version of a blue light bulb. However, unlike the "Blue Light Specials" of Kmart's past, Mr. Bluelight does not represent surprise spur of the moment sales on slow moving Merchandise , but now represents better quality products and competitive prices at all Kmart stores. He also gives customers ideas to help them with their shopping, and making the most out of their Kmart experience. To date Mr. Bluelight has appeared in 3 Commercial s, the last one aired in July, and odds are more commercial/TV ads will be created with Mr. Bluelight in them. Specials associated with Mr. Bluelight inside Kmart stores are "Blue Light Finds" and "Best of Blue" Blue Light Finds: Are specials on merchandise that may or may not have been mentioned the store's weekly flyer. Blue Light Finds feature a sign with Mr. Bluelight on them and the price/sale price of product. Blue Light Finds also give shoppers ideas that go along with certain items such as a curtain with the Blue Light Find might mention something that this item would go good with, usually listing or mentioning other items that you may want to consider. Best of Blue: Best of Blue are advertisements for high quality products, such as Craftsman, Joe Boxer, Martha Stewart Everyday, and any other high end quality Kmart or Sear's Brand Merchandise. The products are usually sold at competitive prices to other prices given by the competition such as Wal-Mart or Target . The Best of Blue signs also usually feature Mr. Bluelight on them usually with his arms in the air or his hands on the sides of mouth in excitement over the price and quality of the product. CANADA AND AUSTRALIA STORES Kmart was also once a major presence in Canada . However, as a result of Kmart's ongoing financial difficulties, the Canadian division comprising 112 stores was sold to competitor Zellers of the Hudson's Bay Company in 1998, after which the stores were either closed or converted to the Zellers brand. Like Target stores, Kmart-branded Stores in Australia belong to Coles Group , who also holds the rights to the Kmart Brand in New Zealand . Kmart stores in Australia are currently expected to be renamed to bring them into line with Coles brand in late 2007 , however in March 2007 Coles Group put the decision on hold pending the sale of the group. LIST OF CEOS
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