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  • Sears and K-Mart Merger

    http://starbulletin.com/breaking/breaking.php?id=2940

    Sears Roebuck and Co., as part of its strategy to expand business beyond malls, has closed on its purchase of 50 stores from Kmart Holding Corp., including one location in Waipahu.

    Sears said it paid 30 percent of the $575.9 million purchase price and will pay the rest on taking possession of the stores next spring, including the Kmart store at 94-825 Lumiaina St.

    The Waipahu store is expected to undergo renovation and bear the Sears nameplate by the end of next year, said Chris Brathwaite, a spokesman for Sears.

    While the company has not determined how many employees will be needed to staff the new store, the company plans to provide Kmart associates an opportunity to be considered for employment with Sears, Brathwaite said.

    http://biz.yahoo.com/prnews/040929/cgw036_1.html
    Check out my blog on Kona issues :
    The Kona Blog

  • #2
    Re: Waipahu Kmart Closing

    What will happen to the japanese tourists I see everyday when I walked there?

    And will this be the first one story Sears, or what?

    KMart had some good products, but some of them were worse than walmart's.
    How'd I get so white and nerdy?

    Comment


    • #3
      Re: Waipahu Kmart Closing

      Look at it this way...you're not losing a KMart, you're gaining a SEARS! And we all know, "Sears has everything!"

      On a related and somewhat incestuous front, this past June, KMart announced that it had completed a deal with WM to buy some of their free standing stores. So some neighborhoods won't be losing WM (and all its political problems) but gaining a KMART and Federal felon Martha Stewart!

      Miulang
      "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

      Comment


      • #4
        Re: Waipahu Kmart Closing

        Actually Kmart sold some of their store sites to Home Depot and Sears.
        Sears was the one that bought some Wal-Mart and Kmart sites.

        It is my understanding as far as I read these free standing stores will be converted into Sears Grand stores. It will have the same stuff Sears has
        but in a big box layout.
        Check out my blog on Kona issues :
        The Kona Blog

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        • #5
          Re: Waipahu Kmart Closing

          Originally posted by Aaron S
          Actually Kmart sold some of their store sites to Home Depot and Sears.
          Sears was the one that bought some Wal-Mart and Kmart sites.

          It is my understanding as far as I read these free standing stores will be converted into Sears Grand stores. It will have the same stuff Sears has
          but in a big box layout.
          I stand corrected by Aaron. You know what's funny about Sears and its acquisitions from KMart and WM, though? Not too long ago they were in Chapter 11 (as was KMart) and the news today was that WM was planning to buy back something like $10 billion of its shares to keep the value high. I looked at the locations of the 6 WM stores that Sears is buying and they're all in kinda podunk towns, which is exactly where the WM formula has worked so well. I wonder what Sam Walton would think about things today?

          Miulang
          "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

          Comment


          • #6
            Re: Waipahu Kmart Closing

            To delve in this further I wonder what Sears
            is doing buying soon to be former WM stores
            in "podunk" towns. As far as I understand Sears
            wants to open these "big box" Sears stores in
            upscale communities with people who have lots of money.
            Check out my blog on Kona issues :
            The Kona Blog

            Comment


            • #7
              Re: Waipahu Kmart Closing

              Originally posted by Aaron S
              To delve in this further I wonder what Sears
              is doing buying soon to be former WM stores
              in "podunk" towns. As far as I understand Sears
              wants to open these "big box" Sears stores in
              upscale communities with people who have lots of money.
              I guess the term "podunk" is relative. According to Morningstar, here are the towns/cities that will have new Sears stores (formerly WM):

              Wal-Mart Stores
              Indiana
              4551 University Dr. Evansville-West IN

              Nebraska
              7904 S 83rd St. La Vista NE

              Ohio
              9365 Fields Ertel Rd. Cincinnati OH

              South Carolina
              7501-A Garners Ferry Rd. Columbia SC

              Tennessee
              393 E. Main St. (Rt 31 E) Hendersonville TN

              Illinois
              3315 Court St. Pekin IL

              I think these may be "bedroom communities" except for Cincinnati and Evansville. I've driven through both Cincinnati and Evansville, and compared to say, Seattle or Honolulu, I would call them up and coming but by no means wealthy.

              Miulang
              "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

              Comment


              • #8
                Re: Waipahu Kmart Closing

                Originally posted by Miulang
                Look at it this way...you're not losing a KMart, you're gaining a SEARS! And we all know, "Sears has everything!"
                True, but will it have some of the same products as the one at Pearlridge?

                I've always seen sears as a "one stop place for your home", and they do have everything. They could compete with Lowes, Radioshack, some of the retail outlets, and if they still sold music, then they could compete with Borders next door.
                How'd I get so white and nerdy?

                Comment


                • #9
                  Re: Waipahu Kmart Closing

                  I visited a Sears that wasn't associated with a Mall. Everything on one level is cool. Makes browsing/shopping easier. Reminds me of Kohl's
                  La'akea

                  Comment


                  • #10
                    Re: Waipahu Kmart Closing

                    Try the Sears in Hilo at the Prince Kuhio Mall. One floor...come to think of it most of Hilo is on one floor!
                    Life is what you make of it...so please read the instructions carefully.

                    Comment


                    • #11
                      Re: Waipahu Kmart Closing

                      You know, I hadn't been tracking this strategy until now. Quite interesting. I was afraid Sears was going to go the way of Woolworth's and JCPenney's, but instead I see a growth strategy and a bit of a new direction.

                      Obviously, they won't be as cheap as WalMart or KMart, but they'll most certainly be nicer... and I know the surly service and chaotic environment of discount retailers is part of the reason some people don't shop there.

                      I think Sears still has a niche left to work with. Sure, you can get power tools at Home Depot, and vacuum cleaners at WalMart, and giant TVs at Circuit City... but they've got a good mix of merchandise, and enough of a history and brand identity that people still think to go there for certain things.

                      I certainly won't miss the KMart. I think I've been inside one of their stores once, and vowed never again.

                      Comment


                      • #12
                        Re: Waipahu Kmart Closing

                        Lihue's Sears is also on one floor too, but I remember right it takes two different locations in the same shopping center, one location which sells clothes is across the mall from the location that sells the applicances.

                        I would think Sears not having a catalog was signalling the end of era but it is still around.

                        Comment


                        • #13
                          Re: Waipahu Kmart Closing

                          Originally posted by pzarquon
                          . I certainly won't miss the KMart. I think I've been inside one of their stores once, and vowed never again.
                          Hey let's not stomp on Aaron's turf here.
                          Life is what you make of it...so please read the instructions carefully.

                          Comment


                          • #14
                            Re: Waipahu Kmart Closing

                            I will be surprised if the Sears at Ala Moana Center survives the opening of the nearby Wal-Mart.

                            And I won't miss it if it does go ... (unlike the Woolworth's).

                            Comment


                            • #15
                              Re: Waipahu Kmart Closing

                              Originally posted by adri1456
                              True, but will it have some of the same products as the one at Pearlridge?
                              As far as I read these new Sears Grand stores will have the same stuff
                              as a traditional Sears store. Except the layout will be more of a big
                              box flavor. Since shopping centers are not being built like they used to
                              Sears is branching out to increase their revenue.
                              Check out my blog on Kona issues :
                              The Kona Blog

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