Retail Decline
's last full-sized store in the , located in , will close on October 20, leaving a smaller location as the sole Kmart in the continental U.S.
The closure is part of a broader trend of Kmart's decline, with the company filing for Chapter 11 bankruptcy in 2002 and merging with in 2005, a move later criticized as disastrous.
Historical Context
Kmart opened its first store in 1962 in , rapidly expanding to over 2,100 stores by 1981. However, it struggled to compete with Walmart and Target, leading to a significant reduction in its store count over the years.
Despite its U.S. decline, Kmart still operates over 300 locations in and , highlighting the brand's contrasting fate in different markets.