Kmart’s Last Full-Size Store to Close in October

In a significant blow to American retail history, Kmart, once a titan of the department store industry, is set to close its last full-size store in the United States this fall. The fabled store, located in Bridgehampton, New York, will officially shut down on October 20, according to an employee who spoke to local news outlet WJAR.

Announcement from Kimco Realty Corp

This announcement comes from Kimco Realty Corp, the real estate investment trust that owns the shopping complex where Kmart operates. While they confirmed the store's closure, details regarding the specific reasons behind this decision have not been disclosed, fueling speculation about the retail chain's troubled journey.

The End of an Era for Full-Size Kmarts

Interestingly, although no full-size Kmarts will remain in the continental U.S., a smaller location in Miami, Florida, will continue to operate. However, this outlet is much less significant, resembling more of a convenience store like CVS rather than the expansive stores known in Kmart's prime. This smaller store hardly compares to the extensive network Kmart enjoyed during its glory days.

Kmart’s Presence Beyond the Mainland

Despite the closures on the mainland, Kmart is not completely vanishing. The company manages to keep a foothold in other territories, with stores in the U.S. Virgin Islands and Guam still operational.

A Glorious History Began in 1899

Kmart's illustrious history began in 1899 when Sebastian Spering Kresge opened a five-and-dime store in Detroit. Over the next decade, his ambitions transformed into a national presence under the S.S. Kresge Company, which boasted 85 stores by 1912. The first official Kmart opened in Garden City, Michigan, in 1962, leading to rapid expansion. By 1966, Kmart had soared to 162 locations across the nation.

Peak Influence in the 1990s

The brand reached the peak of its influence in the 1990s, operating over 2,300 stores and employing around 350,000 people. However, after years of financial challenges, Kmart filed for Chapter 11 bankruptcy in 2002 and later merged with Sears Holdings in 2005, further entrenching the chain in struggles that culminated in Sears Holdings' bankruptcy in 2018.

Kmart: A Reflection of Retail Evolution

Today, Kmart is a shadow of its former self, highlighting the seismic shifts within the retail landscape. As we bid farewell to Kmart’s last full-size store, it serves as a poignant reminder of changing consumer habits and the ongoing challenges faced by traditional brick-and-mortar retailers in an increasingly digital world.

Future of Kmart and Retail Brands

Stay tuned as we continue to track the fate of Kmart and other iconic brands facing the harsh realities of retail evolution!