Why does kmart still exist

News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Dow Jones. Coronavirus Resources. Should You Get a Booster? Jakab wsj. Transformco said in a statement that its "go-forward store strategy for Sears and Kmart is to operate a diversified portfolio consisting of a small number of larger, premier stores with a larger number of small format stores.

One of the closing stores is the Sears store at Woodfield Mall in Schaumburg, Illinois, which Transformco said is "its last large department store in Illinois. See the closure list.

Sign up here. The company has not posted a list of store closures since November when it announced 96 stores would shutter by February At that time, the company said it would operate stores after the closures.

During the same time period, Kmart had dropped from in to 30 in , according to Forbes. While the days of Kmart and Sears megastores dotting the landscape may be over, the brands themselves may not be going away entirely just yet.

In a statement to USA Today , Transformco said that its "go-forward store strategy for Sears and Kmart is to operate a diversified portfolio consisting of a small number of larger, premier stores with a larger number of small-format stores. For more retail news sent straight to your inbox, sign up for our daily newsletter. The latest round of closures may not spell the end for the one-time retail giants, but for devoted customers in some states, it does appear to be the final chapter.

Notably, Sears will see its last department store in its home state shutter when its location at the Woodfield Mall in Schaumburg, Illinois, closes on Nov. The announced upcoming closures will also affect Kmart shoppers in the New York City area. After recently losing its last Manhattan location , both Brooklyn and White Plains will shutter locations in the coming weeks , leaving the Empire state with only three stores standing.

All Rights Reserved. Yes, Kmart is still alive, but not well. Until very recently, Kmart operated over 2, stores in all 50 states. Now only 34 stores remain. And the stores that remain are sparsely stocked and in desperate need of attention. It is a sad time for a once-proud retailer. A Minneapolis Kmart, as seen on September 17, , is one of the company's 34 remaining stores. Its owner, the S. Kresge Company, needed to jumpstart its stagnated variety store business. Its home department carried everything from lumber to paint to hardware.

The stores catered to their suburban customers and sold what they wanted and needed. Within a decade, there were over Kmarts throughout the country. By , that number swelled to over 2,