Kmart And Sears And Their Downfall

2119 words - 9 pages

The primary Kmart store opened its doors on March 1, 1962, in Garden City, Michigan, which focused on selling a huge product selection at cut-rate prices. Throughout the first 30 years, Kmart was referred to as largest retailer store around, even surpassing its competitor Walmart. Kmart stores were designed to increase store sales by increasing the frequency of customer visits. For three decades Kmart looked like there was doing everything right but when they were growing they were also slipping in to a deep hole. Many factors played in their eventual cutback, but supply chain management was their biggest fault. In the 1990’s growing competitors like Target, Sears, and Home Depot took some Kmart’s market place with Wal-Mart taking the biggest slice.
On January 22, 2002, Kmart Corporation was crowned largest retailer seeking bankruptcy protection. As sales declined after a while due to increased competition, management also was neglecting the corporation’s supply chain operation. This neglect launched a surplus of goods doomed for blue light specials (discount/bargain area) that could ought to be trapped in semi-trucks beds behind the shop since the current products on the shelves weren’t moving.
Can not keep up with the competition and retention of consumers, in January of 2002, Kmart Corporation filed for Chapter 11 bankruptcy protection, bringing about the closing of approximately 600 stores, termination of 57,000 Kmart employees and cancellation of company stock.
Kmart filed for reorganization under the U.S Bankruptcy code and announced they are going to develop a intend to manage the financial needs of their stakeholders. There plans were to cut back in size and restructure the organization. However, even with annually, Kmart would not have a direction and business technique to achieve a remarkably competitive marketplace.
Just couple of years after bankruptcy, Kmart Corporation stunned the retail industry with the attainment of Sears in November of 2004. The gaining of Sears for Kmart was obviously a a part of an improvement strategy to improve and strengthen the once dominant giant discount retailer. Sears Holding needed to create new competitive strategies likewise to further improve their position in a very competitive market.

Although billed to be a retail merger, reasons why the once successful companies fell into bankruptcy and issues; some analysts are suggesting it is a real real property deal. Both companies own about 3,500 stores and have seen their stock rise this season after property transactions. At any rate, the merged company still faces an uphill battle against numerous consumer perception that may have to be changed. When future elements are certainly not met, companies have to go through employee layoff, sell off from various stores in order to meet its debt.
Sears Holdings Corporation is really a company that originated two wonderfully-known organizations, Sears and Kmart. Both companies rewind even...

Find Another Essay On Kmart and Sears and Their Downfall

Napoleon and the downfall Essay

722 words - 3 pages his own limitations. Napoleon made three key mistakes which ultimately led to his downfall in 1815; Napoleons quest for Nationalism and association to himself instead of France, embarking in the economically destructive Continental System, and his faded attempt to invade Russia. Nationalism- Napoleon viewed Nationalism as essential to maintaining the loyalty of the French to his command. After all, it was the spirit of nationalism that had

Deception and Downfall Essay

747 words - 3 pages Deception and Downfall One man’s ultimate demise is caused by his use of deception for the happiness of others. In Cyrano de Bergerac by Edmond Rostand, Cyrano loves Roxane, but is too afraid to tell her of his love due to his looks. He eventually resorts to helping Christian love Roxane by writing his words for him, leading to the two getting married. However, Roxane swears that she will never love another man and lives in a convent after

Hitler and His Downfall

4487 words - 18 pages . Before Germany surrendered, Hitler committed suicide.Many historians have compared Hitler to Napolean. Both their failures have been the underestimation of the Russian winter. Another of Hitler's faults is the extreme overconfidence he possessed. Had he excepted failure in Russia and retreated to regroup, his offensive may not have ended in complete failure. He believed in complete domination or destruction. This belief led to his downfall and to

Creon and His Downfall

908 words - 4 pages hearing of the death of her child, Eurydice decides to also kill herself. Though his paranoia was one aspect of Creon’s faulty personality that caused this unfortunate chain of events, his pride was also a key factor in why he did not just allow Antigone to live. Creon’s pride really was his ultimate downfall. As Teresias says, Creon was breaking the law more than Antigone ever was. “Dead denied the grave; this is your crime: and the Furies and the

Sears Holdings Corp. (SHLD) SWOT Analysis, Porter’s Five Forces Analysis and Recommendations

3099 words - 12 pages service shopping experience. We suggest that both stores retrofit some of their spaces inside of their retail stores to invite other retailers or services. Wal-Mart and Target already do this, with Subway and Pizza hut, respectively. This would bring in extra lease revenue for Sears and Kmart. For example Dunkin Donuts, specifically, is looking to increase stores in Southern and Central California and much of the Midwest, where Sears and Kmart

The Downfall of Othello and Hamlet

1274 words - 6 pages When asked to pick two plays of William Shakespeare, I could not help but think of my two favorite plays Othello and Hamlet. These are my favorite plays because in both it can be seen how the protagonist’s downfall was driven by themselves with help of others. For example, Hamlet is acting on instructions from his ghost father, while Othello was being manipulated by Iago. Each protagonist was put in a situation where their tragic flaws not

The Downfall of Desdemona and Emilia

1096 words - 4 pages Lakeisha FontanezCOM 1102 - Fall I 2014October 1, 2014Dr. J. Parla PalumboWeek 5The Downfall of Desdemona and EmiliaIn the play "Othello", by William Shakespeare, there are two major feminine figures that attract our attention; Desdemona, the bride of the play's tragic hero-Othello, and Emilia, the wife of one of the greatest villains of all time- Iago. Although they are comparable in their honor and loyalty to their husbands, there is also a

The Rise and Downfall of Julius Caesar

913 words - 4 pages people today to stand up for what they want and to go get it. One of the things that may have caused his downfall is what he didn’t accomplish. In the midst of trying to revolutionize Rome he didn’t succeed in setting up a sufficient constitutional system (Hart 338). City’s are built upon their government and a weak government makes for a weak city. This is so influential because if he had set up a satisfactory constitutional system he

The Journey and Downfall of Royce Oatman

2938 words - 12 pages attitudes and what they can cause. Yet, from time to time, these tales of hubris are true, and the consequences are real. Such is the case with Royce Oatman. If Royce had been less hubris and more willing to listen to the advice of others, his family would have survived and eventually gone on to live happy and successful lives. The Oatman’s adventure began as a result of their decision to join a new sect of the Mormon faith. This particular

Sadam Hussein's Rule and Downfall of Iraq

1463 words - 6 pages reclaim their region (History “Iran-Iraq”). As a result of Hussein’s greed for land and power, he risked many lives and because of Hussein’s cruel actions, the U.S. fabricated numerous myths about him. In 1982, Iraq and U.S. became allies (History “Iran-Iraq”). While the U.S. thought that supporting Iraq would quiet the revolutions in Iran, it only proved the U.S. were as ruthless as Saddam was believed to be. Later during the war, Saddam Hussein

Characters and Their Weaknesses

955 words - 4 pages Through the flaws in the characterization of his characters, Shakespeare allows their weakness to manipulate and cloud their judgment. This fundamentally leads to the outcome of the play, with each weakness presenting a conflict that alters the characters fate. Being especially true with the star-crossed lovers, William Shakespeare leads their perfect love into tragedy with these conflicts. Characterized as a young and rash teenager, Juliet is

Similar Essays

Richard W. Sears And Sears, Roebuck & Company

1308 words - 5 pages after, they moved the company to Chicago, where they could fill orders more easily to their major markets in Pennsylvania, Georgia, Texas, and Iowa.Later that year the first of the Sears catalogs that have become so familiar was made. The catalog was the key to the success of Sears. It used simple, direct language that spoke to the nation's farmers. The catolog would claim that the goods featured inside were 'the best in the world'.The stress of

The Possession Of People And Their Downfall

1122 words - 5 pages influence in Francis Scott Fitzgerald novel The Great Gatsby that Jay Gatsby’s immaturity and the sacrificing mentality, Myrtle Wilson’s greediness and Gatsby’s wealth eventually lead to their downfall. Firstly, Gatsby’s immaturity causes him to lose Daisy. Tom, Daisy’s husband, knows that she regularly visits Gatsby, but he does not get to know their affair. Thus, Tom provokes Gatsby to say, “your wife doesn’t love you, she [has] never loved you

Hershey, Rockefeller, Sears, And Carnegie Essay

766 words - 3 pages positions because of their desire to succeed. Also, both Carnegie and Rockefeller were involved in many charities and donations where as Hershey and Sears weren't. Many people have thought that Carnegie and Rockefeller were involved in charities for the purpose of making themselves look better when people were starting to think of the way they conducted business as bad. Each of these men took very different approaches towards their success, and

Oedipus And Eventual Downfall Essay

2302 words - 9 pages cause the very thing both hoped to not happen, to occur. While the last two Choral speeches are somewhat instructional and lecturing, the third Choral speech tells the audience an outcome of such actions. This Choral speech is used to prepare the Audience as well as give insight as to what will happen in the later parts of the play. They hint at the downfall of Oedipus and attribute the reasons to his excessive pride. Oedipus is called a