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Sears and Kmart have closed more than 3,500 stores and cut about 250,000 jobs in the past 15 years.Kmart store closings 2022: Just three Kmarts remain after new round of closures
Three Kmart stores will be open after the Kmart in Avenel, New Jersey, 15 miles south of New York City, is scheduled to permanently close on April 16.www.usatoday.com
Kmart’s decline has been slow but steady, brought about by years of falling sales, changes in shopping habits and the looming shadow of Walmart, which coincidentally began its life within months of Kmart’s founding in 1962.
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Online retail has wrecked bricks and mortar stores.
Walmart kind of eclipsed K-Mart in the 80sTechnically K Mart goes back to the early 1900's when they were known as 'S.S. Kresge' dime stores. I remember my grandmother loved them. She would say "let's go to Kresge's!"
Walmart kind of eclipsed K-Mart in the 80s
I haven't been to a mall in many years.Yes, and it always has fascinated me.
Go back to the 60's and especially the 70's, and K Mart was huge. They clearly hands down had the title of largest discount chain.
They started out competing in the five and dime business with Woolworth, Newberry's and a few other regional chains. By the late 70's they became the third largest retailer in the world.
Then something peculiar happened. They stopped growing, and they entered an era that my bosses at JC Penney referred to as "coasting". Enter Walmart, which left small town America, and exploded like no retailer has ever. They not only took down K Mart, but Sears, Wards, Woolworth, and the rest. Penney's, once the world's second largest retailer, has been going through an extended slow death that has surprised a lot of people that they've held on this long.