Kmart : The Largest Nationwide Retailers

899 WordsJun 15, 20164 Pages
Kmart is one of the largest nationwide retailers in the world. The company was founded in 1962 and known for their slogan “shop your way.” Kmart became known for their blue light specials that occurs in the store from time to time to mostly show appreciation to their customers. Kmart headquarters is located in Troy, MI. It also exists in Australia and New Zealand, after U.S. equity in the Australian business was purchased, it has no relation to the American stores except in name. In the early 1990’s, Kmart tried to improve on their image by introducing a new logo. Then, they begin remodeling their stores so that they can begin to offer exclusive merchandise to help and improve on sales. Kmart then introduced the Big Kmart which offered full service grocery store and general merchandise. However, Kmart profitability and sales peaked due to other competition. Even though, Kmart maintained a high dividend, which it reduced the amount of money remaining to continue to improve its stores. The business analysts faulted the corporation for failing to create a coherent brand image. In the early 2000’s, Kmart filed bankruptcy, because of some mismanaged funds on the chairman behalf. In a scandal similar to that involving Enron, Conaway and Schwartz were accused of misleading shareholders and other company officials about the company 's financial crisis while making millions and allegedly spending the company 's money on airplanes, houses, boats and other luxuries. At a
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