Kmart Corporation EXECUTIVE SUMMARY Kmart continues to grow from 18 associates first employed at Kresges five-and dime to more than 240,000 associates that are currently employed at Kmart. Kmart opened two supercenters and two discount stores, closed four discount stores and converted ten discount stores into supercenters. As of October 31, 2001, Kmart operated 2,113 stores compared to 2,163 stores last year. CEO Charles C. Conaway initiated an aggressive plan to leapfrog the competition and make Kmart again Americas retailer of choice. There are three strategic imperatives that drive the business today: achieving World Class Execution, becoming a Customer-Centric Culture and maximizing Sales and Marketing Opportunities. (Corporate History 2) Kmart continues to expand by its selection of exclusive brands, offering more product only available at Kmart stores.
Some of these brands include Martha Stuart Everyday, Sesame Street, Jaclyn Smith, Kathy Ireland and Route 66. New partners such as Disney and JOE BOXER have also begun to have their merchandise through Kmart. Management Roles and Techniques Kmart Kmarts Store Operations and field organization is being structured into five separate operating divisions including four geographic areas – West, Southeast, Northeast and International – and a separate Super Centers division. The company previously operated with six geographical field divisions. Kmart is committed to addressing our operational challenges in a thoughtful, yet aggressive, manner. This new organization will provide a clear, focused direction and strong leadership for our store teams, said Conaway. Gregg Treadway brings 26 years of retail experience to this new position and I have the utmost confidence in Greggs ability to lead our Store Operations team at this critical time.
The Business plan on Wal Mart Kmart Stores Style
Kmart's main weakness was that it had an aspiration to be all things to all people - its dabbling's in drug stores, home improvement stores, bookstores, cafeterias and specialty stores in the 1980 s and early 1990 s seemed to spread the company very thin. This focus on diversification is just one example of how the retailer has often not made the wisest choices when faced with a tight spot. By the ...
TABLE OF CONTENTS Current Situation A. Current Performance B. Mission & Vision C. Strategies and Policies Corporate Governance A. Board of Directors B. Top Management SWOT Analysis External Evaluation Analysis Summary and Matrix Internal Factor Analysis Summary and Matrix Analysis of Strategic Factors A. Situational Analysis B. Review of Mission, Vision, and Objectives C. TOWS matrix Strategic Alternatives and Recommended Strategy CURRENT SITUATION Current Performance The Kmart as we know today wasnt always the nations second largest discount retailer and the worlds third largest general merchandise retailer.
Kmart was born in 1899 by the ideas of S. S. Kresge. Mr. Kresge opened a variety store in Detroit and sold everything for 5 and 10 cents. These low prices appealed to the shoppers and brought success to this variety store.
In 1912, Mr. Kresge had already opened 85 stores and was incorporated in Delaware. S. S. Kresge Company was then reincorporated in Michigan four years later in 1916. Inflation during World War I forced Mr. Kresge to raise his prices to 25 cents.
Yet the open displays and convenient locations continued to attract customers and the business persisted to grow. In 1959, Harry Cunningham became president of the Kresge organization. Under Cunnighams leadership, Garden City, MI, became home of the first Kmart discount department store in 1962. Seventeen additional stores opened in 1962, which led to corporate sales of more than $483 million in that year. By 1977, nearly 95 percent of S.S. Kresge Company sales were generated by Kmart stores.
To reflect this development, the company then changed its name to Kmart Corporation. Ten years later, Kmart sold the remaining Kresge stores to fully concentrate on discount merchandising. Kmart is a discount retailer and is second in the nation in this industry. A discount retailer means that Kmart offers name brand products to consumers at a discounted price. They can do this by buying the products in large quantities. They have tremendous purchasing power as respects their suppliers.
The Term Paper on Emerging Retail Trends In India
India represents an economic opportunity on a massive scale, both as a global base and as a domestic market. Indian Retail sector consists of small family-owned stores, located in residential areas, with a shop floor of less than 500 square feet. At present the organized sector accounts for only 2 to 4% of the total market although this is expected to rise by 20 to 25% by next 3 years. Retail ...
I would have to say that Kmart Corporation is in the Mature stage of the industry life cycle. The reason why I feel this way is because Kmart Corporation is still reaping profits, the competition is relatively low and the market/consumers are beginning to see the importance of these large discount retailers. In 1996, Kmart introduced.
