When you say Sears you probably think of quality goods, like Craftsman tools and high-end appliances. When you say K-Mart you probably think Kame-Apart, or crap quality with a funny smell. At least I do. However, Sears and K-Mart seem to think they were made for each other.
Kmart Holding Corp. and Sears, Roebuck and Co. announced a merger agreement today that will create the nation’s third-largest retail company, called Sears Holdings Corp.
The companies said Sears Holdings will have approximately $55 billion in annual revenues, 2,350 full-line and off-mall stores, and 1,100 specialty retail stores. It will be headquartered in the Chicago suburb of Hoffman Estates, Ill., but will maintain a “significant presence” in Troy, Mich., where Kmart is based
I’m a little disturbed by this merger. It just doesn’t make sense to me, although I suppose it should since everything is all about money and not about quality these days.
