KMart

#REDIRECT: Kmart

Kmart

Kmart is a brand and retailing division of Sears Holdings Corporation. ==History== 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 store known as S. S. Kresge. By 1912, the chain operated 85 stores. 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 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. 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, Kmart Corporation sold its remaining Kresge stores. By the late 1980s, many of Kmart's stores were badly outdated and in decaying condition, so in 1990, in an effort to change their image, Kmart introduced a new logo (dropping the old-style italic "K" with a turquiose "mart", created in the early 1970s), and gave many stores a very badly needed renovation. However, most stores were not remodeled until the mid-1990s, some of which are not completely renovated today. This then-new logo was replaced in 2005 with the current 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. 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. This campaign attempted to compete directly with Wal-Mart on low prices; the campaign's failure partially lead to Kmart's bankruptcy filing. 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 then brought back the "blue light special", which involved the manager announcing a promotion in-store every hour, on the hour�said special lasting for 25 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!" It has since ended the "blue light special" again. 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. 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 a new prototype store with a new logo, layout and color scheme (lime green and gray) in 2002 in White Lake, Michigan. The new layout has wider aisles, better selection and better lighting. However, Kmart could not afford a full-scale rollout. Once a major presence in Canada, Kmart stores there were either closed or sold to Zellers in the late 1990s. Like Target Corporation stores, Kmart-branded stores in Australia belong to Coles Myer; Coles Myer also holds the rights to the Kmart brand in New Zealand. ==Merger== ''See Sears Holdings Corporation#Merger in Sears Holdings Corporation'' ==List of CEOs== *Sebastian S. Kresge *Harry Cunningham *Bernard Fauber *Joseph Antonini *Floyd Hall *Charles Conaway *James Adamson (Kmart CEO) *Julian Day (Kmart CEO) *Aylwin B. Lewis, President of Sears Holdings and CEO of Kmart and Sears Retail ==See Also== * Sears Canada - Canadian unit * Sears - department store unit * Sears Holdings Corporation - holding company for Sears and Kmart ==External links== * [http://www.kmartcorp.com/corp/ Kmart's consumer website] * [http://www.sptimes.com/2002/01/23/news_pf/Columns/_Rain_Man__character_.shtml Column on Kmart's demise] * [http://news.bbc.co.uk/1/hi/business/1992267.stm FBI investigates Kmart (BBC)] Retail companies of the United States Companies based in Michigan Five and dimes

Kmart

''In addition, Kmart attempted to compete against Wal-Mart on price, which failed because Wal-Mart contrived to meet and beat Kmart's price cuts.'' Puh-leeeeze. Maybe it's just me, but the notion of ''contriving'' carries with it a rather clear suggestion of conspiracy, scheming, and subterfuge. I'd feel more comfortable with "opted", "was able", or "diabolically reset its pricing so as". === anon comment moved from article === == Headline text == I don not know what all you you people out there think about Kmart but yea so if you would like to know there are not many at all that are called kmart any more, and so it is weird that they have kmart on the home page name when now it is really called the big K and so yea that is why i thought that that was weird you know what i am saying any who, so i am looking for a store layout, and did you hear about belling and he was on the radio station, and he made a barogitory comment, and yea so a lot of people who were that culture, were preety affended, anyways so do you think that martha stewart is guilty, or what about michelle Jackson? I think that he is innocent, but what ever i do not beleive in gay marrages do you? What ever well so yea so this is all about Kmart --[anon] == Blue light special and blue plate special? == Anyone know about the origin of the "blue light special" and, specifically, whether the phrase was intended to echo the phrase Blue-plate special? User:Dpbsmith_User_talk:dpbsmith">User:Dpbsmith|User:Dpbsmith User_talk:dpbsmith 11:04, 2 Dec 2004 (UTC) :I don't know whether the intent was to echo blue-plate special, but as I recall, the K-mart term came from a flashing blue light that would indicate the location of a temporary (perhaps in-store) special. An loudspeaker would also make announcements about the special. User:Bkonrad≠User talk:Bkonrad 12:54, Dec 2, 2004 (UTC) ::Sure. The canonical announcement was "Attention, K-Mart shoppers!" And the blue light was on a sort of cart with a post that raised it high enough above the shelving to be visible throughout the store. The question is, was the name (and perhaps the choice of light color) intended to echo or evoke the restaurant phrase? User:Dpbsmith_User_talk:dpbsmith">User:Dpbsmith|User:Dpbsmith User_talk:dpbsmith 13:06, 2 Dec 2004 (UTC) The story of the attempted "revival" of this Blue Light thing is probably the biggest example of marketing and business stupidity I've ever read in my entire life. == Failure reasons == I do agree that not setting up proper inventory control (IT) was a big mistake. However, i think what really killed them was when they started buying other business that were not low priced. If they stayed within the Kmart store concept, they had a chance of surviving even with a poor inventory control. So issentially, the biggest mistake started in mid 80's. The second major thing that brought them down was poor management ethics. Dig a bit on Charles Conaway, James Adamson, Mark Schwartz etc. I think the company deserved going down when you have such greedy leaders. Oh, and i almost forgot, the store managers did their part to bring the company down. Even when there was some kind of inventory control system, they avoided using them because that would have meant doing away with shelf revenue. What i mean is, they were happy to take the slowest moving items at expense of fast moving goods if the former paid well lending to frequent stock out. Very retarded action i would say ::An interesting character, Mark Schwartz, i think worked as an executive for walmart in realty related business, left in 1996, when that business filed for backruptcy. Headed to Hechinger Company and left a week before the company filed bankruptcy. Ended up in Big V Supermarkets and .. you got it... left weeks before they filed for bankruptcy. Ha, you would think they guy will never get a job anywhere else. Wrong, the guy ended up in Kmart, implemented Blue Light Always strategy and cranked up inventory by up to 8.3 billion dollars in 2001 christmas. Apparently, people shopped elsewhere and when January of 2002 came, oops we can't be able to pay our suppliers and the rest is history .. sorry all the above is history. This is the fun part though, the guy got a $3 million parting gift for doing a very ''good'' job. What am i to say Kmart, good riddance.

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KMart
Kmart
Kmart
KMart/Dura_Lube_400
Kmartin
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