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.

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Stock Forecasts

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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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