Kmart Closes Last Remaining Store in the Contiguous U.S.
Kmart's Final Chapter in the Contiguous U.S.
Kmart is set to close its last big-box store located in Bridgehampton, New York, on October 20. This closure comes as a blow to a retail giant that once dominated the discount marketplace. The Bridgehampton Commons location will no longer serve customers, although Kmart will maintain a smaller operation in Miami, Florida.
The Decline of Kmart
Originally opened in 1962, Kmart expanded rapidly, boasting 1,400 stores at its peak. However, rising competition from companies like Costco and Walmart, alongside the growth of online shopping, led to its gradual decline. The 2005 merger with Sears also failed to revive the fading brand.
Wider Retail Trends
In 2023 alone, various retailers, including Bed, Bath & Beyond and Rite Aid, closed over 4,600 stores, representing an 80% increase in store closures compared to the previous year. The retail landscape continues to shift dramatically.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.