Attention Kmart shoppers: The last full-size Kmart in the mainland United States is closing
Published On Sep 23, 2024, 4:12 PM
Kmart is set to close its last full-size store in the mainland U.S. on October 20, 2024. This closure comes as the brand struggles against competition from larger retailers such as Walmart and Target, which offer a wider range of products and online shopping convenience. The company has not made significant investments in the brand since its merger with Sears in 2005, leading to a decline in stores. Currently, Kmart only maintains a small format store in Miami and locations in Guam and the U.S. Virgin Islands.
Stock Forecasts
WMT
Negative
With Kmart's closure, the brand faces diminished market presence leading to negative sentiment around its parent company, Transformco. The retail sector continues to shift toward successful big-box names, impacting smaller chains like Kmart. Investors might see opportunities outweighing risks in larger competitors who are capturing this market share.
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