The last full-size Kmart store in the continental United States is set to close its doors, marking the end of an era for a once-dominant retail giant.
At a Glance
- Kmart’s last full-size store in Bridgehampton, NY, will close on October 20, 2024
- Only one smaller Kmart store remains in Miami, Florida
- Kmart once operated 2,300 stores with 350,000 employees at its peak
- The chain’s decline began after its 2002 bankruptcy and subsequent merger with Sears
- Kmart still has locations in the U.S. Virgin Islands and Guam
The Fall of a Retail Giant
Kmart, once a titan of American retail, is facing the closure of its last full-size store in the continental United States. The Bridgehampton, New York location, which has served the Hamptons community for 25 years, will shut its doors permanently on October 20, 2024. This closure represents the final chapter in the mainland presence of a company that once boasted 2,300 stores and employed 350,000 people across the nation.
The Bridgehampton store, occupying nearly 90,000 square feet, has been the largest big-box discount retailer in the Hamptons since its opening in 1999. Its impending closure leaves only a smaller format store in Miami, Florida, which operates more like a convenience store, selling basic necessities in a much smaller space.
END OF AN ERA | Last full-size Kmart store closes.https://t.co/73hCjnQD2b
— WPEC CBS12 News (@CBS12) September 23, 2024
A Legacy of Affordable Shopping
Founded in 1899 by Sebastian Spering Kresge, Kmart expanded rapidly under the leadership of Harry Cunningham in the 1960s. The company became a pioneer in discount retailing, offering a wide range of affordable products to American consumers. Kmart’s iconic “Blue Light Special” sales and the catchphrase “Attention Kmart shoppers” became deeply ingrained in American pop culture.
“Kmart was part of America,” said Michael Lisicky, a Baltimore-based author who has written several books on U.S. retail history. “Everybody went to Kmart, whether you liked it or not. They had everything. You had toys. You had sporting goods. You had candy. You had stationery. It was something for everybody. This was almost as much of a social visit as it was a shopping visit. You could spend hours here. And these just dotted the American landscape over the years.”
At its peak in the 1990s, Kmart operated around 2,500 stores across the United States, cementing its status as a retail powerhouse. However, the company’s fortunes began to change as it faced increasing competition from rivals like Walmart and Target.
The Decline of an American Institution
Kmart’s decline can be attributed to several factors, including slow adoption of e-commerce, failure to modernize its stores, and intense competition. The company filed for bankruptcy in 2002, leading to the closure of many stores. In 2005, Kmart merged with Sears in an $11 billion deal, forming Sears Holdings Corp. However, this union failed to revitalize either brand.
“Kmart decided they were never going to update their strategy from 1962. And they slowly became irrelevant as newer, better discounters appeared,” said Schrager, who said the chain “never found its fashion footing.”
The company’s struggles continued, culminating in a second bankruptcy filing in 2018. Transform Holdco LLC, also known as Transformco, acquired Sears Holdings’ assets in 2019, but has been unable to stem the tide of store closures.
The Last Remnants of Kmart
With the closure of the Bridgehampton store, Kmart’s presence in the continental United States will be reduced to a single, small-format store in Miami. The company still maintains a handful of locations in the U.S. Virgin Islands and Guam, but these represent a mere shadow of its former retail empire.
As the last full-size Kmart prepares to close its doors, it marks the end of an era in American retail. The company’s decline serves as a cautionary tale about the importance of innovation and adaptability in the ever-changing retail landscape. For many Americans, the closure of Kmart stores represents not just the loss of a shopping destination, but the fading of a cultural touchstone that was once an integral part of their communities.
