Kmart‚ once the leader in the discount store industry‚ has found itself surpassed by Wal-Mart and Target in recent years and is now facing the possibility of closing its doors. The differences among the companies’ successes can be seen in their business models and strategies. Wal-Mart focused on decreasing expenses and Target established its market placement as a high-quality low-cost discount store. In contrast‚ Kmart used a promotions-driven business model. Because of this‚ Kmart focused on
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Kmart and Sears: Still Stuck In The Middle? On January 22‚ 2002‚ Kmart Corporation became the largest retailer in U.S. history to seek bankruptcy protection. Kmart management said that they would outline a plan for repaying Kmart’s creditors‚ reducing its size‚ and restructuring its business so that it could leave court protection as a viable competitor in discount mass-marketretailing. Emerging from bankruptcy in May 2003‚ Kmart still lacked a business strategy to succeed in an extremely competitive
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Throughout the decades‚ Kresge rapidly expanded eventually opening the first Kmart store in 1962 in Garden City‚ Michigan. By 1966 there were more 160 Kmart stores in the US and Canada. In 1968 Kmart began airing TV commercials. In the 1970s‚ Kmart continued to expand opening 270 stores in 1976 alone. In 1977‚ S.S. Kresge changed its name to Kmart because 95% of its sales were coming from that branch. In the 1980s and early 90s‚ Kmart diversified by adding other retailers such as Walden Book Company which
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Industry Analysis Report on Kmart INTRODUCTION Kmart is a huge vintage company that had peeked at one time and now is struggling to survive due to competition and other legal battles. This analysis report will describe and analyze the major forces that shape the structure and competitive intensity of Kmart. This report will look at Kmart’s history‚ competitors‚ marketing strategies‚ and some legal battles that have affected the company. The shaping and structuring of Kmart started more than one hundred
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On November 17th‚ 2004 Kmart and Sears publicly announced the impending merger of the two struggling companies to become Sears Holding Corporation. Kmart‚ for 11.5 billion dollars would be the buyer‚ however due to strong brand name recognition and history‚ Sears would be the face of the new conglomerate. At the heart of this merger was Edward Lampert‚ an extremely successful hedge fund manager who had made a name for himself by‚ purchasing companies in the red and making them profitable once again
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KMART: STRIVING FOR A COMEBACK COMPANY: Kmart Corporation is facing a serious problem with regards to the problem of bankruptcy protection that had allowed it to continue its operation even though it had been delinquent on obligations of more than $4.7 billion owed to creditors‚ vendors and leaseholders. The bankruptcy< which was filed in January 2002 was the largest bankruptcy in U.S. retailing history and was the culmination of decades of poor strategy execution that resulted in an overall
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Strategy final project Target vs. Kmart Shai Zamir Dan Saguy Introduction Kmart Corporation‚ incorporated in May 1916‚ is a chain of discount retail stores and a general merchandise retailer‚ headquartered in the United States‚ with store locations in all 50 states‚ as well as Puerto Rico. Kmart went through significant changes in the last 10 years: In 2002 a scandal similar to that of Enron‚ Kmart’s management was accused of misleading information. In 2003‚ after filing for chapter 11
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Target‚ KMart‚ and Illegal Hazardous Waste Dumping in California By David Goguen on June 17‚ 2009 8:09 AM | No TrackBacks Retail Giants’ Waste Disposal Practices are No Bargain for the Environment Target stores throughout California have been unlawfully disposing of hazardous waste materials for at least eight years‚ according to a lawsuit filed against the retail giant this week by the California Attorney General and a number of local prosecutors. Another big-box retailer‚ KMart Corporation
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I. Nature of the Organization Kmart‚ affiliated with the Sears Holding Corporation‚ competes within the retail industry. As part of their mission‚ Kmart is committed to building lifetime relationships by offering quality products and services at discounted prices. Kmart’s products range from groceries to clothing‚ and services varying from layaway to leasing. Kmart aims to give their customers the well-rounded experience from the moment they walk through the door to thanking them at the end of
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Abstract Kmart a long standing discount retailer and Sears have merged to make up Sears Holdings Corporation. As the two struggling retailers combine forces‚ it will allow for both companies‚ now working as one to reemerge bigger and better than ever. Now they are in the process of restructuring their management structure‚ to hopefully be able to locate where their areas of weakness are. K-mart‚ one of the leaders in department stores‚ has been around for over 100 years. Although the company
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