History and Timeline of Sears Holding Corporation

Topics: Kmart, Sears Holdings Corporation, Discount store Pages: 3 (1003 words) Published: November 15, 2011
Ever since Sebastion S. Kresge opened the first kmart on March 1, 1962 in Garden City, Michigan; kmart has become a popular discount franchise with hundreds of stores across the nation. Kmart has gone through bankruptcy and joined with other companies along the way, but the store still remains in business with a loyal customer basis.

Kmart, now a wholly owned subsidiary of Sears Holdings Corporation, operated a total of 1,307 Kmart stores across 49 states, Guam, Puerto Rico, and the U.S. Virgin Islands as of January 29th, 2011. Nine hundred and eighty-one of these kmart stores operate in-store pharmacies, and twenty have Sears Auto Centers operating within them which include professional automotive repair and maintenance services. Another popular offering from kmart stores is their layaway program, which has continuously expanded over the years.

Though kmart is not now as popular as it once was, corporate headquarters have made sure that everyone knows that kmart is still around. To this day, kmart is still the leading print promotional retailer,with weekly circulars reaching millions of households each week.

Kmart has grown, prospered, and somewhat fallen, but to this day kmart still stands the third largest discount store chain in the world.

Sebastian Spering Kresge opened a small five and dime store in 1899, this was the basis of todays kmart corportation. In this store, everything was sold for 5 or 10 cents. A few years later Kresege opened an aditional chain of stores with prices of one dollar or cheaper. With the philosphy of giving the customers what they need for affordable prices, Kresege was able to expand his customer basis as well as expand his company. In 1937, Kresege opened a store in the country's first suburban shopping center - Country Club Plaza in Kansas City, Missouri.

Along with the substantioal amount of advertising that S.S. Kresege Corporation produced, the company knew that they needed to change to stay on top of the...
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