Kmart’s Post

Believe it or not, Kmart is still going. However, with just one full-sized store remaining in the mainstream US it is literally holding on by its fingernails. That grip will further loosen on October 20th when the last major location within the US – in Bridgehampton, New York – shuts its doors. There's another Kmart store in Miami, but this is a small format which is a shadow of what the iconic retailer once was. There also some shops outside of the 50 states, but you need to go to places like Guam to find them. In just 10 years Kmart (which was latterly owned by the retail disaster that was Sears) has gone from a declining but still major force in retail to being less than a bit part player. It's a valuable lesson that even the most mighty of retailers can become extinct with bad management and a lack of customer and market focus. #retail #retailnews #Kmart #Sears #departmentstores #massmerchants

These types of stories blow my mind. A prominent, well established retailer with incredible brand recognition is no longer around after a complete downfall over the past decade. I loved Kmart! Decisions made around strategic initiatives and operations can make or break a brand for years to come. Find partners you can trust that understand your business and the market influences that can enhance or disrupt what you are trying to accomplish. Find partners that can not only help you develop a proper framework and plan, but ones that can also help you execute on that plan at scale.

With the closing of Kmart, Maestri-Murrell Vice President Benjamin Stalter comments on the changes in the current retail landscape. "The decline of major retailers like Sears, Circuit City, Toys R Us, and Borders highlights the vulnerabilities within the retail landscape. These companies struggled with outdated management structures and failed to adapt to changing consumer preferences and market fluctuations. While some may feel nostalgic about their closure, the overarching sentiment is that these businesses were unable to innovate and remain relevant. This changing of landscape, while often painful, clears the way for more agile and forward-thinking companies to thrive in a rapidly evolving market." https://lnkd.in/g5C4J3cw.

𝗜𝗳 𝗧𝗵𝗲𝗿𝗲'𝘀 𝗢𝗻𝗲 𝗠𝗮𝗻 𝗧𝗼 𝗕𝗹𝗮𝗺𝗲 𝗙𝗼𝗿 𝗧𝗵𝗲 𝗙𝗮𝗶𝗹𝘂𝗿𝗲 𝗼𝗳 𝗞𝗺𝗮𝗿𝘁 + 𝗦𝗲𝗮𝗿𝘀, 𝗜𝘁'𝘀 𝗘𝗱𝗱𝗶𝗲 𝗟𝗮𝗺𝗽𝗲𝗿𝘁. Instead of pursuing his grand plans to create a retail empire, Lampert sold off real estate, national brands, entire subsidiaries, and pretty much anything that wasn’t tied down. As news hit last week that Kmart — once the largest retailer in America — was closing its last full-line store in the continental U.S., this seemed like a good time for one last reminder of why it happened. ➡️ https://lnkd.in/evYuee8H #RetailNews #RetailMarketing #RetailManagement

Grab your favorite Slurpee while you can! 7-Eleven plans to close 272 stores next year, following 184 closures in 2023. Despite this, the convenience store giant still boasts over 9,200 locations nationwide and is set to open 270 new stores. What do you think about these changes? 🍧🏪 #7Eleven #conveniencestore #retailnews #businessupdate #cstore

The end of an era is upon us as Kmart's last US store prepares to close its doors, marking the end of a retail icon. What lessons can we glean from this unfortunate demise? Here are some key takeaways: - Stay ahead of the curve: Innovation and adaptation are paramount. - Don't get too comfortable: Complacency is the enemy of progress. - Evolve or perish: Stagnation in the face of changing consumer habits is fatal. - Stay relevant: Brand image must resonate with newer generations. - Partner up: Strategic collaborations can make or break a business. - Listen to your customers (and data): Ignoring trends leads to poor decisions. What lessons do you think we can learn from Kmart's story? Share your thoughts! #Kmart #Retail #BusinessLessons #Innovation #Adaptation #Leadership

Walmart said Wednesday it plans to build or convert more than 150 stores in the next five years, while remodeling existing stores. In a memo shared with The Associated Press, John Furner, president and CEO of Walmart's U.S. division, said that the first two new stores under this initiative, both Neighborhood Markets, are set to open later this spring in Atlanta and Santa Rosa Beach, Florida. It's also finalizing construction plans on 12 new store projects to start this year, along with converting one of its smaller locations to a Walmart Supercenter. Supercenters run about 180,000 square feet and sell everything from oranges to clothing to TV sets. The news comes as the Bentonville, Arkansas-based chain, like many other retailers, is relying more on its physical stores to fulfill online orders and use them as online pickup locations. https://lnkd.in/eYgthj2U #walmart #commercialrealestate #technology 

Continued new store growth planned over the next 5 years

Interesting article.

Wondering why Walmart is scaling up its Neighborhood Market presence? Walmart has launched a larger format for its Neighborhood Market stores, starting with new locations in Santa Rosa Beach, Fla., and Atlanta’s Vine City neighborhood. These stores are part of a five-year plan to open or convert over 150 locations. What are the underlying motivations behind this expansion? The company's strategic rationale behind this move is multifaceted. Recognizing the limitations posed by market saturation in certain locales for its traditional big box supercenters, Walmart aims to leverage smaller store formats like the Neighborhood Market to sustain its market dominance and foster continued growth. This strategic pivot underscores Walmart's commitment to optimizing its retail footprint to effectively compete with both discount retailers and smaller grocers and fit into the local community seamlessly. The new stores, each with 57,000 sq. ft. of sales floor space, are 17,000 sq. ft. larger than the average Neighborhood Market. This expanded space allows for a broader product assortment, especially in fresh departments like bakery, produce, meat, and dairy. The larger format also includes more room for pickup and delivery services, enhancing convenience for customers. 👉 Click link for details: https://lnkd.in/gnZpcVfF #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #walmart #neighborhoodmarket