FACTOID # 22: South Dakota has the highest employment ratio in America, but the lowest median earnings of full-time male employees.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
RELATED ARTICLES
People who viewed "K Mart" also viewed:
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > K Mart
new Kmart logo
new Kmart logo

Kmart Corporation was a US based corporation until it merged with Sears Holdings in November 2004. Sears Holdings operates over 1400 Kmart stores in the United States, Guam, Puerto Rico and the US Virgin Islands. This work is copyrighted. ... This work is copyrighted. ... Sears Holdings is a proposed new retail holding company, created from the merger of Sears, Roebuck and Company of Hoffman Estates, Illinois and Kmart Holdings Corporation of Troy, Michigan. ...

Contents


History

Kmart logo (1966-1990")
Kmart logo (1966-1990")

Sebastian S. Kresge founded the S.S. Kresge Corporation, the predecessor of Kmart, in 1899 in Detroit, Michigan. Kresge's first retail establishment, a five-and-ten-cent store, resembled those operated by Frank Woolworth. The store grew into a chain known as S. S. Kresge. By 1912, the chain operated 85 stores. Image File history File links Kmart_logo_old. ... Image File history File links Kmart_logo_old. ... Sebastian Spering Kresge (July 31, 1867 – October 18, 1966), American merchant and philanthropist, was the founder of the S.S. Kresge Company, now known as Kmart Corporation. ... 1899 was a common year starting on Sunday (see link for calendar). ... City nickname: The Motor City, Motown Official website: http://www. ... Five and dime was a common nickname in the United States for five-and-ten-cent stores (also called 5 and 10s), popular in the early to mid-20th century. ... Franklin Winfield Woolworth (April 13, 1852 – April 8, 1919) was an American merchant. ... Chain stores are a range of retail outlets which share a brand and central management, usually with standardised business methods and practices. ... 1912 (MCMXII) was a leap year starting on Monday. ...

Kmart logo (1990-2004)
Kmart logo (1990-2004)

By the 1920s, Kresge operated larger stores that offered a wider variety of merchandise and prices—precursors of the modern discount store. The first Kmart department store opened in 1962 in Garden City, Michigan. A total of 18 Kmart stores opened that year. Kmart logo, claiming fair use, please update File links The following pages link to this file: Sears Holdings Corporation ... Kmart logo, claiming fair use, please update File links The following pages link to this file: Sears Holdings Corporation ... Sometimes referred to as the Jazz Age or primarily in North America and in Australia as the Roaring Twenties . In Europe it is sometimes refered to as the Golden Twenties. ... Exterior of typical department store (JCPenney). ... 1962 (MCMLXII) was a common year starting on Monday (link will take you to calendar). ... Garden City is a city located in Wayne County, Michigan. ...

The lime green prototype logo
Enlarge
The lime green prototype logo

Kmart became known for its "blue light specials": at surprise moments, a store worker would light up a mobile police light and offer a discount in a part of the store. 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, Kmart Corporation sold its remaining Kresge stores. Image File history File links K-Mart. ... Image File history File links K-Mart. ... External links Yahoo! Finance Aggregates some really good business articles Categories: | | | ... For the album by Ash, see 1977 (album). ... 1987 (MCMLXXXVII) is a common year starting on Thursday of the Gregorian calendar. ...

Super K-Mart Logo
Super K-Mart Logo

In the 1990s, Kmart made a number of missteps. Unlike competitor Wal-Mart, 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. It attempted to compete with Wal-Mart on price, at the same time trying to move upscale with lines offered by Martha Stewart, Kathy Ireland, and Jaclyn Smith. Other recognizable brands included Sesame Street and Disney. Image File history File links Super_K-Mart. ... The 1990s refers to the years 1990 to 1999; the last decade of the 20th Century, but in an economical sense The Nineties is often considered to span from the fall of the Berlin Wall in November 1989 to the September 11 attacks in 2001. ... Wal-Mart Stores, Inc. ... A supply chain, logistics network, or supply network, consists of all suppliers, manufacturing facilities, distribution centers, warehouses, and customers, as well as all raw materials, work-in-process inventory, and finished goods, and all related information and resources involved in satisfying an end-customers requirements. ... McDonalds, represented by the Golden Arches, is one of the worlds most famous brands In marketing, a brand is the symbolic embodiment of all the information connected with a product or service. ... Martha Stewart Martha Stewart (born August 3, 1941) is a television and magazine personality known for her cooking, gardening, etiquette, and arts and crafts projects, and as a general lifestyle guide and homemaker. ... Ireland on the cover of the Sports Illustrated Swimsuit Issue Kathy Ireland (b. ... Ellen Jaclyn Smith (born October 26, 1947) is an American television actress. ... From A Celebration of Me, Grover, showing much of the main cast of Sesame Street. ... Disney may refer to: The Walt Disney Company and its divisions, including Walt Disney Pictures. ...


In 2001, in a move to re-introduce the recognizable and historic "blue light special" image, which had 80% familiarity to Americans, Kmart introduced the ill-fated "Blue Light Always" marketing campaign. 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 proposed new "blue light special" involved the manager announcing a promotion in-store every hour, on the hour—said special lasting for twenty-five minutes. When the announcement of the special took place over the public address system, music would fill the store and all employees would stop their current actions, clap twice and pump their fists in the air, shouting "Blue Light, Blue Light!". This scheme aimed to generate more interest in Kmart from shoppers and the media, but failed because stores did not follow the procedure. No records exist of anyone actually shouting "Blue Light, Blue Light!" 2001: A Space Odyssey. ... 1991 (MCMXCI) is a common year starting on Tuesday of the Gregorian calendar. ...


The stock scandals involving Martha Stewart (from 2001) severely hurt the corporation's image. In addition, Kmart attempted to compete against Wal-Mart on price (for example, with deep discounts and round the clock opening), which failed because Wal-Mart contrived to meet and beat Kmart's price cuts. Martha Stewart Martha Stewart (born August 3, 1941) is a television and magazine personality known for her cooking, gardening, etiquette, and arts and crafts projects, and as a general lifestyle guide and homemaker. ...


On January 22, 2002, Kmart filed for bankruptcy protection. It shut down more than 300 stores in the United States of America and laid off around 34,000 workers as part of a badly-needed restructuring. On May 6, 2003, Kmart officially emerged from bankruptcy protection as Kmart Holding Corporation and on June 10, 2003 it began trading on the NASDAQ National Market (as "KMRT"). Kmart introduced 5 then new prototype stores with a new logo, layout and color scheme (lime green and gray) in 2002 with one in White Lake, Michigan and four more in Peoria, Illinois. The new layout has wider aisles, better selection and better lighting. However, Kmart could not afford a full-scale rollout. January 22 is the 22nd day of the year in the Gregorian calendar. ... 2002 (MMII) is a common year starting on Tuesday of the Gregorian calendar. ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, administration - see text) in the UK. Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. ... Kmart Holding Corporation was created when Kmart Corporation emerged from bankruptcy protection in May 2003. ... June 10 is the 161st day of the year in the Gregorian calendar (162nd in leap years), with 204 days remaining. ... 2003 (MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... NASDAQ MarketSite (Times Square, New York City) at night NASDAQ (originally an acronym for National Association of Securities Dealers Automated Quotations) is a U.S. electronic stock market. ... Prototypes or prototypical instances combine the most representative attributes of a category. ... Look up green in Wiktionary, the free dictionary. ... The word gray is also spelled grey: see Grey for topics with this spelling. ... 2002 (MMII) is a common year starting on Tuesday of the Gregorian calendar. ... White Lake Township is a township located in Oakland County, Michigan. ... Peoria is the largest city on the Illinois River and the county seat of Peoria CountyGR6, Illinois. ...


Once a major presence in Canada, Kmart stores there were either closed or sold to Zellers in the late 1990s. Like Target stores, Kmart-branded stores in Australia belong to Coles Myer; Coles Myer also holds the rights to the Kmart brand in New Zealand. Zellers Inc. ... Target Corporation NYSE: TGT was founded in Minneapolis, Minnesota in 1902. ... Coles Myer Ltd. ... McDonalds, represented by the Golden Arches, is one of the worlds most famous brands In marketing, a brand is the symbolic embodiment of all the information connected with a product or service. ...

Exterior of a typical "BIG K" Kmart store
Exterior of a typical "BIG K" Kmart store

Download high resolution version (885x594, 92 KB)Description: Photograph of a Kmart store exterior Source: Photograph taken by Jerome C. Skeene on 10 April 2004. ... Download high resolution version (885x594, 92 KB)Description: Photograph of a Kmart store exterior Source: Photograph taken by Jerome C. Skeene on 10 April 2004. ...

Merger

On November 17, 2004, Kmart and Sears announced their intention to merge. The combined company would be the third largest retailer in the United States, behind Wal-Mart and Home Depot. The combined company will be known as Sears Holdings, with headquarters located in Hoffman Estates, Illinois. The new company will continue to operate two brands of stores under the existing names, though based on demographics they expect hundreds of Kmart stores to be converted into Sears. 17 November is also the name of a Marxist group in Greece. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Sears Holdings Corporation NASDAQ: SHLD is the third largest retailer in the United States, behind Wal-Mart and The Home Depot. ... Wal-Mart Stores, Inc. ... The Home Depot (NYSE: HD) is a home improvement retailer that aims for both the do-it-yourself consumer and the professional in home improvement construction. ... Sears Holdings is a proposed new retail holding company, created from the merger of Sears, Roebuck and Company of Hoffman Estates, Illinois and Kmart Holdings Corporation of Troy, Michigan. ... Hoffman Estates is a village located primarily in Cook County and a small section in Kane County, Illinois. ...


The new company will be directed by a board of directors comprised of members from the current companies: seven members will come from Kmart's board, three from Sears's. The shareholders in Kmart will receive one share in the new company. Shares of Sears stock will be converted into a combination of 55% stock (at a ratio of 1 old to ½ new share) and 45% cash (at $50/share). Stockholders will have a choice of receiving either stock or cash, subject to the pre-defined ratio. It has been suggested that Board of Trustees be merged into this article or section. ...


The companies announced that the combined company would be able to achieve greater profits together than either could separately, and greater than the one-time value based on their real estate. CBS News reports one shrewd stockholder made over $1,000,000,000 as a result of the merger. The companies closed the transaction on March 24, 2005. Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... March 24 is the 83rd day of the year in the Gregorian Calendar (84th in Leap years). ... 2005 (MMV) is a common year starting on Saturday of the Gregorian calendar. ...


List of CEOs

  • Sebastian S. Kresge
  • Harry Cunningham
  • Bernard Fauber
  • Joseph Antonini
  • Floyd Hall
  • Charles Conaway
  • James Adamson (Kmart CEO)
  • Julian Day (Kmart CEO)

Sebastian Spering Kresge (July 31, 1867 – October 18, 1966), American merchant and philanthropist, was the founder of the S.S. Kresge Company, now known as Kmart Corporation. ...

Diversity

Kmart received a 57% rating on the 2004 Corporate Equality Index published by the Human Rights Campaign. HRC logo The Human Rights Campaign (HRC) is one of the largest lesbian, gay, bisexual, and transgender (LGBT) equal rights organization in the United States. ...


See also

Kmart Australia is a discount department store chain, roughly equivalent to Wal-Mart stores in the United States. ... Corporate abuse refers to incidents that involve unethical behavior on behalf of a corporation; a case of corporate abuse may be a scandal, fraud, or negligence toward the corporations employees and/or the local community. ... Here is a list of pop culture parodies of real department stores: This is an incomplete list, which may never be able to satisfy certain standards for completeness. ...

External links


  Results from FactBites:
 
Arkansas SBDC: BizFacts #4515 - COMPETING WITH THE MASS MERCHANDISERS (5542 words)
K Mart and Wal-Mart are fighting it out to become the number one retailer in the United States, relegating Sears Roebuck to third place.
K Mart has always employed the weekly sale system, where one or two print ads per week are distributed through local newspapers and advertisers.
K Mart, Wal-Mart and other discount general merchandise stores try to promote the concept that the average shopper can find most of his or her everyday needs under one roof at the lowest price possible.
TIME.com: K Mart's Blue Period -- Jan. 14, 2002 -- Page 1 (977 words)
K Mart was not amused by Hood's report, but Conaway showed some bravado in the face of the onslaught: he refused to interrupt his vacation to respond to Hood's salvo.
K Mart is a struggling firm caught between two pricing strategies while trying to solve a complicated supply-chain problem--and hold off Wal-Mart.
K Mart is trying to wean itself from the weekly circulars, but in the third quarter the company cut back too fast.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m