NEW YORK (CNN/Money) - Sears Roebuck & Co. and Kmart are merging in an $11 billion stock deal, the companies announced Wednesday, combining two major retailers that have both lost ground in competition with discount retailers in recent years.
Will this merge means a big competition for Walmart?
Kmart and Sears to merge
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cycloneye
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Kmart and Sears to merge
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Miss Mary
Ed - me too. Sears' catalog was a big seller. Years ago, Sears sold reprints of one of their early catalogs (late 1800s). My mom had it sitting on the coffee table! I wish we still had it. It was such a conversation piece!
We looked at refridgerators a year ago when ours gave out. Sears was one of 4 or 5 stores we checked. They would not budge on price. We were able to find a new GE brand one for $600, $25 delivery fee from a small, privately owned company. Comparable Sears fridge would have been $750, plus a $75 delivery fee. My dad would be surprised - he bought nearly everything from Sears! I can remember walking out that day and Jim saying - forget looking at Sears in the future!
Mary
We looked at refridgerators a year ago when ours gave out. Sears was one of 4 or 5 stores we checked. They would not budge on price. We were able to find a new GE brand one for $600, $25 delivery fee from a small, privately owned company. Comparable Sears fridge would have been $750, plus a $75 delivery fee. My dad would be surprised - he bought nearly everything from Sears! I can remember walking out that day and Jim saying - forget looking at Sears in the future!
Mary
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ICK, does this mean that Sears will smell like old popcorn? I've only been to Kmart a couple of times and I felt like I had to take a shower afterwards. IT just made my skin crawl...
I dont go to Sears either. My husband goes there for tools and stuff, but Craftsman isnt what it used to be either. All that outsourcing to Asian countries.
Mediocre store merges with less than mediocre store just means one less mediocre store to go to.
I dont go to Sears either. My husband goes there for tools and stuff, but Craftsman isnt what it used to be either. All that outsourcing to Asian countries.
Mediocre store merges with less than mediocre store just means one less mediocre store to go to.
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wx247
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Interesting... I like KMart so-so, and I enjoy shopping @ Sears, but why combine the two?
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Miss Mary
I prefer Target over KMart and Sears. One store I really like is Kohl's too!
Interesting stats in local paper:
_________________________________
http://hosted.ap.org/dynamic/stories/S/ ... CTION=HOME
Nov 17, 9:52 AM EST
Key Dates in the History of Sears, Roebuck
1886: Richard W. Sears, a railroad station agent who sells coal as a side job, buys unwanted watches from jeweler and founds R.W. Sears Watch Co. in Minneapolis.
-1887: Moves company to Chicago and places newspaper ad for watchmaker, hires Alvah C. Roebuck.
-1893: Firm incorporates as Sears, Roebuck and Co., offering products by mail order to rural residents and farmers at lower-than-general store prices.
-1896: Issues first general catalog.
-1906: Opens three-million-square-foot mail order plant in Chicago, largest in world. Opens second plant in Dallas.
-1908: Richard Sears retires as company president.
-1909: Company begins selling Sears Motor Buggy. (line discontinued in 1912)
-1916: Establishes savings and profit sharing program for employees.
-1925: First Sears retail store opens in catalog center on Chicago's West Side.
-1927: Launches Craftsman and Kenmore brands.
-1931: Establishes Allstate Insurance Co.
-1945: Sears sales pass $1 billion.
-1953: Establishes Simpsons-Sears Ltd. in Canada.
-1962: Introduces Vincent Price Fine Arts Collection.
-1973: Sears moves headquarters to Sears Tower, then world's tallest building.
-1981: Sears acquires Dean Witter Reynolds and Coldwell, Banker & Co.
-1985: Debuts Discover Card.
-1993: Catalog discontinued. Sells 20 percent of Allstate. Sells off Coldwell Banker Residential Services and Sears Mortgage Banking Group.
-1995: Headquarters move to Hoffman Estates, Ill.
-1997: Opens Great Indoors stores.
-2002: Acquires Lands End specialty catalog.
-2004: Announces merger with Kmart to form Sears Holding Corp.
Source: Sears, The Associated Press
____________________________________
And now for KMart's turn:
http://hosted.ap.org/dynamic/stories/K/ ... CTION=HOME
Nov 17, 9:52 AM EST
A Look at Kmart's History
A look at the history of Kmart Holding Corp., which on Wednesday announced its was combining with Sears, Roebuck & Co.:
---
-1899: S.S. Kresge Co. founded by Sebastian S. Kresge.
-1912: The company incorporates in Delaware with 85 stores and sales of $10,325,000.
-1918: S.S. Kresge Co. becomes publicly traded company, listed on the New York Stock Exchange.
-1929: Canadian subsidiary S.S. Kresge Co. Ltd. is founded. By year end, 19 stores operating in Canada.
-1962: Company opens first Kmart discount department store in a suburb of Detroit. Seventeen other Kmart stores open the same year.
-1966: Founder Sebastian S. Kresge dies at age 99.
-1966: Sales top $1 billion mark for the first time. Number of stores climbs to 915, including 162 Kmart stores.
-1977: Name changed from S.S. Kresge Co. to Kmart Corp. to reflect that in 1976, sales at Kmart stores accounted for 94.5 percent of the company's domestic consolidated sales.
-1981: The 2,000th Kmart store opens. At year end, there were 2,055 Kmart stores in the U.S., Canada and Puerto Rico.
-1987: Kmart introduces Martha Stewart, entertainment and lifestyle spokeswoman and consultant.
-1997: Kmart launches Martha Stewart Everyday line of bed and bath fashions, and complementary paint line.
-2002: Kmart files for Chapter 11 bankruptcy protection. At the time, the company had 2,114 stores. The bankruptcy led to the closing of about 600 stores and the termination of 57,000 employees.
-2003: Kmart exits Chapter 11 bankruptcy protection as Kmart Holding Corp.
-2004: Kmart announces plans to combine with Sears, Roebuck & Co. in an $11 billion deal. The combined company will be headquartered in the northwestern Chicago suburb of Hoffman Estates, where Sears has its headquarters.
---
Sources: Kmart and The Associated Press.
Interesting stats in local paper:
_________________________________
http://hosted.ap.org/dynamic/stories/S/ ... CTION=HOME
Nov 17, 9:52 AM EST
Key Dates in the History of Sears, Roebuck
1886: Richard W. Sears, a railroad station agent who sells coal as a side job, buys unwanted watches from jeweler and founds R.W. Sears Watch Co. in Minneapolis.
-1887: Moves company to Chicago and places newspaper ad for watchmaker, hires Alvah C. Roebuck.
-1893: Firm incorporates as Sears, Roebuck and Co., offering products by mail order to rural residents and farmers at lower-than-general store prices.
-1896: Issues first general catalog.
-1906: Opens three-million-square-foot mail order plant in Chicago, largest in world. Opens second plant in Dallas.
-1908: Richard Sears retires as company president.
-1909: Company begins selling Sears Motor Buggy. (line discontinued in 1912)
-1916: Establishes savings and profit sharing program for employees.
-1925: First Sears retail store opens in catalog center on Chicago's West Side.
-1927: Launches Craftsman and Kenmore brands.
-1931: Establishes Allstate Insurance Co.
-1945: Sears sales pass $1 billion.
-1953: Establishes Simpsons-Sears Ltd. in Canada.
-1962: Introduces Vincent Price Fine Arts Collection.
-1973: Sears moves headquarters to Sears Tower, then world's tallest building.
-1981: Sears acquires Dean Witter Reynolds and Coldwell, Banker & Co.
-1985: Debuts Discover Card.
-1993: Catalog discontinued. Sells 20 percent of Allstate. Sells off Coldwell Banker Residential Services and Sears Mortgage Banking Group.
-1995: Headquarters move to Hoffman Estates, Ill.
-1997: Opens Great Indoors stores.
-2002: Acquires Lands End specialty catalog.
-2004: Announces merger with Kmart to form Sears Holding Corp.
Source: Sears, The Associated Press
____________________________________
And now for KMart's turn:
http://hosted.ap.org/dynamic/stories/K/ ... CTION=HOME
Nov 17, 9:52 AM EST
A Look at Kmart's History
A look at the history of Kmart Holding Corp., which on Wednesday announced its was combining with Sears, Roebuck & Co.:
---
-1899: S.S. Kresge Co. founded by Sebastian S. Kresge.
-1912: The company incorporates in Delaware with 85 stores and sales of $10,325,000.
-1918: S.S. Kresge Co. becomes publicly traded company, listed on the New York Stock Exchange.
-1929: Canadian subsidiary S.S. Kresge Co. Ltd. is founded. By year end, 19 stores operating in Canada.
-1962: Company opens first Kmart discount department store in a suburb of Detroit. Seventeen other Kmart stores open the same year.
-1966: Founder Sebastian S. Kresge dies at age 99.
-1966: Sales top $1 billion mark for the first time. Number of stores climbs to 915, including 162 Kmart stores.
-1977: Name changed from S.S. Kresge Co. to Kmart Corp. to reflect that in 1976, sales at Kmart stores accounted for 94.5 percent of the company's domestic consolidated sales.
-1981: The 2,000th Kmart store opens. At year end, there were 2,055 Kmart stores in the U.S., Canada and Puerto Rico.
-1987: Kmart introduces Martha Stewart, entertainment and lifestyle spokeswoman and consultant.
-1997: Kmart launches Martha Stewart Everyday line of bed and bath fashions, and complementary paint line.
-2002: Kmart files for Chapter 11 bankruptcy protection. At the time, the company had 2,114 stores. The bankruptcy led to the closing of about 600 stores and the termination of 57,000 employees.
-2003: Kmart exits Chapter 11 bankruptcy protection as Kmart Holding Corp.
-2004: Kmart announces plans to combine with Sears, Roebuck & Co. in an $11 billion deal. The combined company will be headquartered in the northwestern Chicago suburb of Hoffman Estates, where Sears has its headquarters.
---
Sources: Kmart and The Associated Press.
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Much prefer Wal-Mart(the Supercenter I can see out my window 
). Sears and K-Mart are in a town about 20 miles down the interstate. We go to the town a lot, and I've been in both stores occasionally, but they really don't impress me. Wal-Mart blows K-Mart away in terms of what they have in stock and Sears prices are usually way too high.
). Sears and K-Mart are in a town about 20 miles down the interstate. We go to the town a lot, and I've been in both stores occasionally, but they really don't impress me. Wal-Mart blows K-Mart away in terms of what they have in stock and Sears prices are usually way too high.
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Miss Mary
LOL you guys....
In Wal-mart's defense, if our own store would ever be rebuilt, I'm told I'd like Wal-mart. But our store is bulging at the seams (very overstocked), very poorly laid out and the main aisle (something thankfully Target leaves completely empty) is loaded with weekly items. Leaving just enough space for one cart on each side. So trying to walk down this main Wal-mart aisle, you're jogging over and out, standing in between these weekly specials, to allow for another customer to get by.
Quite honestly if I had the same 10 items on a list and shopped at both Target and Wal-mart, I know for certain I'd find all 10 at Target. I'd leave there stressfree. It would be challenge to find all 10 at Wal-mart and try to keep my patience at the same time.
I hear there are clean, well run Wal-mart supercenters. They just don't exist around these parts!
Mary
In Wal-mart's defense, if our own store would ever be rebuilt, I'm told I'd like Wal-mart. But our store is bulging at the seams (very overstocked), very poorly laid out and the main aisle (something thankfully Target leaves completely empty) is loaded with weekly items. Leaving just enough space for one cart on each side. So trying to walk down this main Wal-mart aisle, you're jogging over and out, standing in between these weekly specials, to allow for another customer to get by.
Quite honestly if I had the same 10 items on a list and shopped at both Target and Wal-mart, I know for certain I'd find all 10 at Target. I'd leave there stressfree. It would be challenge to find all 10 at Wal-mart and try to keep my patience at the same time.
I hear there are clean, well run Wal-mart supercenters. They just don't exist around these parts!
Mary
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