Once a retail giant, Kmart nears extinction after closure

today04/12/2022 60

share close

AVENEL, N.J. (AP) — When the Kmart in Avenel, New Jersey, closes its doors on April 16, it will leave just a handful of remaining locations for the former retail powerhouse.

It’s a far cry from the chain’s heyday in the 1980s and ’90s when it had more than 2,000 stores and sold product lines endorsed by Martha Stewart and former “Charlies Angel” Jaclyn Smith. Kmart’s demise is attributed to the rise of Walmart and Target and online behemoth Amazon.

But retail expert Mark Cohen says the company also was dogged by poor management decisions and could have stayed viable.


Source: AP – All contents copyright 2022 Associated Press.  All rights reserved.


Written by: Editor

Rate it

Previous post


State official opts for bench trial on misconduct charges

DOVER, Del. (AP) — A state medical official who is also a former Delaware lawmaker has opted for a bench trial on charges of official misconduct and falsifying business records. The trial of Rebecca D. Walker is set to begin Tuesday afternoon in New Castle County Superior Court. Walker is the director of nursing in the state Division of Public Health and a former state House representative. She is accused […]

today04/12/2022 42