Sears and Kmart

[tlm2121]

I thought Sears and Kmart were owned by the same company? i saw Kmart is offering some Craftsman stuff on BF, but are they going to merge or what are they doing? I think it was a long time ago i saw Kmart got bought out and i thought by now something would have happened - has anyone heard anything about Sears' ad yet?

[SF64]

Kmart bought Sears last year. I haven't seen/heard anything about Sears' BF ad yet.

[NikiH]

Although they are owned by the same company, I believe they remain their own entities. There are stores that are a merger of the two called Sears Essentials and I have no idea which sales they will have but it will probably be a weird mix of the two. I'd expect two seperate ads for Kmart and for Sears, their merchandise is so very different.

[Rebirth]

I never knew KMart bought Sears. If someone was buying, Sears should be the one buying.

[Christy Garner]

I agree that Sears should do the buying. I hate K-Mart.

[Marcster]

I never knew KMart bought Sears. If someone was buying, Sears should be the one buying.

Strange, but true:

Kmart to acquire Sears in $11 billion deal

Surprise merger will create the nation's third-largest retailer

Updated: 6:41 p.m. ET Nov 17, 2004

 

NEW YORK - A resurgent Kmart, home of the blue light special, is buying the once-dominant Sears department store chain in a surprising $11 billion gamble it is counting on to help both better compete with Wal-Mart and other big-box retailers.

 

Led by Kmart Holding Corp. chairman Edward Lampert, the new Sears Holdings Corp. would be the nation’s third largest retailer. Both chains would survive, but several hundred stand-alone Kmarts throughout the country are expected to be transformed into Sears stores. The goal: A quick kick-start to sales away from Sears traditional base of shopping malls.

More: http://www.msnbc.msn.com/id/6509683/

[zzxc]

The new K-Mart that emerged from bankruptcy had higher profits - and a higher market cap - than Sears, so they were the ones buying. In fact, they had enough cash on hand to pay Sears shareholders half in cash and half in Sears Holdings stock. This K-Mart that bought Sears was not the old K-Mart that filed for bankruptcy. K-Mart Holdings was created after the bankruptcy by K-Mart's creditors instead of liquidating the company.

[H_Hancock]

Actually, KMart bought Sears two years ago, Nov. 2004. The merger made the combined companies the number three retailer, in gross sales, in the U.S., behind Wal-Mart and Target. Interestingly, the chairman of KMart was the largest single shareholder in Sears, which is one reason why this probably transpired.

 

http://www.consumeraffairs.com/news04/kmart_sears.html

 

As for the sales, I've seen more and more low-end Sears product ending up in KMarts, while the Sears stores drop that same line, outside the Craftsman tool line, of course. One example is in their garden depts. Sears used to carry Weedeater mowers (a very cheap brand at best.) Sears dropped the line from their stores but KMart began carrying them at the same time. I look for more of the same happening as Sears tries to move more upscale (their purchase of Lands End just before the merger was another indication of this.)

[CrayZMama80]

It confused me too with Kmart selling the craftsmen tools. I knew that Sears was bought out by Kmart, but what I did not know was that Kmart was selling anything craftsmen. I thought that they were selling off brand stuff still and Sears was still the only one selling craftsmen. Whoa, I think I just confused myself!

[jewleyp]

I know that you can use your Sears card at Kmart now. That is one of the first questions that the cashiers ask you.

[sleepyshopper]

Kmart bought Sears awhile ago.....I really haven't seen a difference though....I was hoping it would help Kmart become a better store.

[sigrist_2000]

give them time....i think thats the best thing that could have had happen for both stores..if not i dont think either would be here now...Sears and Kmart together gave them a bigger buying power which in turn gets product cheaper to them to sell at same price which means higher profits to grow with and make better stores and inventory, etc...so i would say in the next few years look for a better Sears and Kmart...