Kmart Corporation (/ˈkeɪmɑːrt/ KAY-mart, conducting business as Kmart and stylized as kmart) can be an American big box department store chain headquartered in Hoffman Estates, Illinois, USA. The business was incorporated in 1899 as S. S. Kresge Corporation and renamed Kmart Corporation in 1977. The first store with the Kmart name opened in 1962. At its peak in 1994, Kmart operated 2,486 stores globally, including 2,323 discount stores and Super Kmart Center spots in america. From 2005 through 2019, Kmart was a subsidiary of Sears Holdings Corporation and is currently a subsidiary of Transform SR Brands LLC.
1940s postcard of Kresge store in Springfield, Massachusetts
S. S. Kresge, the founder of the business that could become Kmart, met variety-store pioneer Frank Winfield Woolworth while working as a traveling salesman and selling to all or any 19 of Woolworth’s stores at that time. In 1897 Kresge invested $6,700 saved from his job right into a five-and-dime store in Memphis, Tennessee. He jointly owned the first store along with his former tinware customer, John McCrory. Kresge and McCrory added another store in downtown Detroit the next year. We were holding the first S.S. Kresge stores. After 2 yrs of partnership, he traded McCrory his share in the Memphis store, plus $3,000, for full ownership of the Detroit store, and formed the Kresge & Wilson Company along with his brother-in-law, Charles J. Wilson.