Kmart's closure in Bridgehampton marks the end of an era for a once-dominant discount retailer, highlighting the consequences of strategic missteps and fierce competition.
Competition with successful big box retailers like Walmart and Target eroded Kmart's market position, as consumers shifted towards stores offering a wider array of products and groceries.
The disastrous merger of Kmart and Sears in 2005, orchestrated by Eddie Lampert, prioritized asset sale over investment, contributing to the decline into bankruptcy.
After the merger, despite having over 2,300 stores combined, a lack of focus on enhancing store offerings led to a substantial decline in their retail presence.
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