Kmart doesn't exist in 27 states. Most of the other states have only 1 Kmart, and the only states with more than 3 are CA, MA, PA, NY, NJ, & FL. It doesn't make sense to maintain a brand that far flung with no value proposition whatsoever over the Targets, Walmarts, Amazons, and Dollar Generals of the world. The properties are badly maintained, in lousy locations because the sellable ones have been sold, and keeping the lights on and the number of employees needed just to maintain it just isn't worth it. The sales per square foot are abysmal. If you for some brain damaged reason are still hoping that Kmart is sticking around after Christmas, stop hoping. Stick a fork in Kmart, it's done. Sears still somehow has little pockets of value here and there despite Eddie's very best attempts to k–l it through sheer ineptitude. Starting out with $55B of revenue is hard to k–l in fifteen years even with his vast lack of competencies, but by Jove, he's just about done it.
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I think MD has more than 3?
It’s a damn shame we don’t talk more about the money pilfering tactics of Conaway and Schwartz.
This is the slowest liquidation in retail history. Kmart’s demise has nothing to do with Eddie lampert, he simply bought a great real estate deal. If you look at his finances he was never in any financial danger and had no intention or ability to manage them back to health. I know for a fact the Kmart board of directors were presented with concrete evidence that the company was doomed to fail in the next 18-24 months. This was back in 1999, they literally laughed at the entire notion and summarily dismissed it. Guess what happened 20 months later.....To this day I don’t blame lampert, though he did plenty of horrible things to some great people I called friends and colleagues, but I blame that board back in 1999 who chose to not act. Kmart deserves to go out of business but instead we have had to endure this incredibly slow death that’s painful to watch.
@uxt True they do but they are not STATES. They are territories. The post Said STATES with more than 3. PR and Guam are not STATES.
Puerto Rico and guam have more than three also. Do you know that in guam they have over five hundred employees.