Historical Background Kmart started off as a discount retailer successfully pioneering the same concept as that of F. W. Woolworth. As stores began to grow and diversify‚ Kmart stepped in and took the lead role in offering a one-stop shopping center that fulfilled everyone’s needs. As new niches began to emerge offering larger‚ more specialized stores‚ Kmart hit a major hurdle. The successful management strategies it had developed early on were now outdated and in major need of being renovated to
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Strengths: * Positive Business Strategy – The way Costco operates is providing items in bulk at low prices in membership only warehouses. This has caused an increase in sales with the current recession‚ which also leads to growth during the slow economic times. * Treasure Hunt Merchandising – Costco changes about a quarter of their items to sell regularly. For example‚ customers may find Ragu one week‚ and Prego the next‚ it just depends on who Costco strikes a better deal with. They also offer deals
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Due to slow sales and less traffic at both Sears and Kmart‚ the two have decided to merge creating one entity named Sears Holdings. Kmart has agreed to buy Sears for $11 Billion. This puts Sears Holdings at the third largest retailer behind Wal-Mart and Home Depot. Although Wal-Mart is a direct competitor with Kmart‚ Sears Holdings goal is not to compete with Wal-Mart directly‚ but find areas that have been overlooked by other retailers‚ and take advantage of the expanded line of products the new
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University of Liverpool (OHE) – Supply Chain Operations Management Module COSTCO WHOLESALE CORPORATION Presented by: Temitope O. Fagade Project proposal and scope: A review of Costco Wholesale Corporation key parameters in supply chain operations with a view to suggesting improvements and operational predictions for better economic impact. 28 February 2012. TABLE OF CONTENTS LIST OF ABBREVIATIONS AND GLOSSARY OF TERMS………………………………………………….. 3 1. EXECUTIVE SUMMARY……………………………………………………………………………………………
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Kmart- Performance Management Tactics More than one hundred years ago‚ Sebastian Spering Kresge opened a modest five-and-dime store in downtown Detroit and changed the entire landscape of retailing. The store that Kresge built has evolved into an empire of more than 1‚500 stores and an Internet presence that reaches millions of customers. Overall‚ Kmart’s workforce is highly diverse. Kmart’s total associate population‚ including store managers‚ reflects the communities it serves. Almost 32 percent
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Agenda • • • • • • • • • • Organizational Overview Industry Snapshot Competitor Analysis Financial Analysis SWOT Overview Current Strategy Strategic Issues Recommended Solutions Implementation/Justification Recommendation Recap Organizational Overview • • • • • • Founded by Sebastian S. Kresge in 1962 Number 3 discount retailer in the U.S. Operates 1‚479 stores in 49 states Maintains 3 retail concepts Filed bankruptcy in 2002 Merged with Sears‚ Roebuck & Co. in March 2005 Industry Analysis
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Much has changed for Kmart in the past decade‚ with sales totaling over $37 billion in 2000 to just over $12 billion in the last year (CNN Money‚ 2015). Like many consumers‚ the ‘Bluelight Special’‚ is not going to be the deciding factor in purchases for me. It may be an iconic symbol of what Kmart once was‚ but those days are gone‚ as are the customers of that era. Kmart needs to employ an action sequence that is geared towards reaching the new
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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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MGMT 702 (101) CRAFTING AND EXECUTING STRATEGY Fall 2013: Professor Jai Goolsarran Research and Case Analysis No. 1 (10%): Costco Wholesale Corporation Part B (64 marks) Please refer to the document on this matter posted on eCentennial on September 12‚ 2013. Here are your Part B questions. References in these questions to Costco Wholesale Corporation‚ Costco‚ and “the company” are to be read and understood as one and the same. Your submission should be a word-processed document‚ prepared
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Warehouse Clubs: Costco Wholesale versus Sam ’s Club versus BJ ’s Wholesale Trevor McAlmont Chaoying Shen Keyue Zhang Wenjun Zhou The overall Business Strategy of Costco encompasses ultra-low prices‚ limited selection of nationally branded and private label products‚ treasure hunt shopping environment‚ low operating costs‚ strong growth and effective HR management (Thompson‚ 2011‚ p. C-57). With high sales volumes and fast inventory turnover‚ Costco is able to maintain
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