business

Once a retail giant, Kmart down to 3 stores

8 Comments
By DAVID PORTER

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A few years later, hedge fund executive Edward Lampert combined Sears and Kmart and pledged to return them to their former greatness, but the recession and the rising dominance of Amazon contributed in derailing those goals.

The sounds of dead malls and shopping centers across America, brought to you by hedge funds and private equity.

https://www.youtube.com/watch?v=iEd8l3EGfgA

1 ( +3 / -2 )

Meanwhile as Sears and K-Mart sank, Costco, Wally World and Target thrived. Don't tell me bricks and mortar retail is dead. If K-Mart had kept its stores as nice as those of its two competitors they would not be circling the drain now, nor would Sears. They had a lot of good products especially clothing, bath and linen plus they had Kenmore appliances and Craftsman tools. Their children's clothing section was excellent. I always loved shopping at Sears but had to hold my nose ( and I mean literally ) in some K-Mart stores they were so poorly maintained.

3 ( +4 / -1 )

I wonder what is happening with all the K-Mart stores in Australia? They are one of the biggest retailers there. Different owner maybe?

0 ( +1 / -1 )

Times change, and you have to change with them. Sears could have been Amazon, they had the products, the infrastructure, and the name, they just needed to make the online platform.

4 ( +4 / -0 )

I wonder what is happening with all the K-Mart stores in Australia? They are one of the biggest retailers there. Different owner maybe?

They are not related to the US ones and K-marts in Australia are doing super great in recent years by getting rid of the middle buyers and directly buying products from factories. Its products are of good price and qualities. Many products sells out quickly.

3 ( +3 / -0 )

i did not see any Kmart store in Japan at all.

1 ( +1 / -0 )

Nothing new. There are many that have had this fate. I still have my Blockbuster card I got the only time I ever visited them when I went to the States back in the 1990s. They could have owned Netflix but their hubris got the best of them. Now, they are on the scrap heap. If you don't read the tea leaves correctly and adapt to the market then you go the way of the dodo.

2 ( +2 / -0 )

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