July 22, 2014 9:15 PM ET

Internet and Catalog Retail

Company Overview of Kmart Corporation

Company Overview

Kmart Corporation operates discount retail stores that markets general merchandise under Jaclyn Smith and Joe Boxer labels, as well as Sears brand products such as Kenmore, Craftsman, and DieHard. It also markets its products online. The company was formerly known as S. S. Kresge Company, Inc. and changed its name to Kmart Corporation in 1977. The company was founded in 1899 and is based in Troy, Michigan. Kmart Corporation operates as a subsidiary of Sears Holdings Corporation.

3100 West Big Beaver Road

Troy, MI 48084

United States

Founded in 1899

Phone:

248-463-1000

Fax:

248-643-5249

Key Executives for Kmart Corporation

President
Age: 52
Compensation as of Fiscal Year 2014.

Kmart Corporation Key Developments

Kmart Stores to Close in Hemet

Hemet's Kmart will be closing soon after nearly 40 years. The Kmart store in Hemet will close to the public at a to-be-determined date. Until then, the store will remain open for customers. The store began its liquidation sale on June 19, 2014. Seventy seven members will loss their jobs. Kmart has leased the building at 220 W. Stetson Ave., at State Street, since February 1975.

Kmart to Close Another Oregon Store in Albany

Kmart will close another Oregon store, this time in Albany, as it attempts to chart a path ahead in the vastly transformed retail market. Its parent, Sears Holding Corp., has struggled to compete with online retailers and differentiate Kmart from other big-box stores. Executives announced in May that they would close at least 80 stores in 2014. The company's holiday season disappointed, and it went on to lose $221 million in first quarter 2014, a loss that eclipsed the same time in 2013. The Albany store will close Sept. 14, 2014. The layoffs will affect 64 people. The Albany layoffs will begin Sept. 7, 2014.

Kmart to Close St. Johns Store

Kmart is pulling out of St. Johns, closing its store as part of broader cost-cutting moves by its parent company. The store will go out of business in early June. The St. Johns store has 48 employees, most of whom are part time/hourly workers.

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