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KMART CORPORATION FACTS- Kmart was formed in the late 1950s to challenge new forms of discount stores They are a descendant of an organization Sebastian S Kresge The average Kmart store is around 100000 square feet In 1987 Kmart was the largest discount retailer in the United States They currently have 2223 stores and last year they had over 25 billion in sales which is nearly double that of Wal-Mart In 1991 they opened their Kmart superstores The superstore is a 150000 square feet and is expected to gross 40 to 50 million dollars in revenues It will also remain open 24 hours a day SYMPTOMS- One symptom is that Wal-Mart has lower prices than Kmart which makes them very hard to compete with Kmart has to try to get out of the really urban areas so they can compete more realistically with Wal-Mart They need to keep their appearance and service above par or this also will result in problems PROBLEMS- Kmarts biggest problem is obviously the widespread of Wal-Mart all over the United States They have to find a way to compete with Wal-Marts regional distribution centers These centers ensure the Wal-Mart customers that they are going to get the best product for the best price Since Kmart does not have these centers they still need to pay all of the fees that deal with shipping and handling Kmart needs to do something quick In a recent survey 49 of people said that they would drive right past a Kmart to go to a Wal-Mart The average Wal-Mart customer visits the store 32 times in a year meanwhile the average Kmart customer only visits 15 times in a year They have to be in financial trouble since they are getting pressure from vendors to pay their bills on time Alternative Solutions- Kmart needs to find a certain area that they are better at
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