Last full-size Kmart in US to close

Published On Sep 23, 2024, 9:03 AM

The last full-size Kmart store in the continental U.S. will close in October 2024, leaving only one smaller location in Miami, Florida. Kmart, a former retail giant that had approximately 2,300 stores in the early 90s, has struggled significantly, resulting in multiple bankruptcies over the years. The Bridgehampton store in New York has been in operation for 25 years and will cease operations on October 20, 2024. Transformco, the current owner of Kmart, remains unresponsive to comments regarding this closure.

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With the closure of the last full-size Kmart store, it indicates ongoing weakness in the retail sector, especially for traditional department stores which are competing with online retailers. This serves as a continuing trend that could negatively impact retail real estate investments. However, investors might find opportunities in real estate companies like Kimco Realty Corp., which owns the property where Kmart operates.

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Last full-size Kmart in US to close

Sep 23, 2024, 9:03 AM

The last full-size U.S. Kmart store location, which is in New York, is reportedly set to close in October 2024, leaving only one smaller store remaining.

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