K-Mart

K-Mart Anne Foss October 8, 2004 MT 460 01 Management Policy and strategies Lesson Project 1 K-mart Kmart was founded in 1899, it was known as the SS Kresge store. In 1912 the firs was incorporated and had 85 stores with sales of $10,325,000. Next to Woolworth’s it was the largest variety chain. In 1957 Harry Cunningham became General Vice President. In 1962 the first K-Mart was opened as a one-stop shopping unit. It was where you could by a variety of goods at closeout prices. Its weakness is when they tried to venture into other types of business and they spread themselves to much. This is where K-mart made one of their worse decisions in business. They realized expanding this way would not work. The only thing that they could do is to expand and improve their own stores. In 1990 K-Mart started to reverse their strategy, so they refurbished, expanded stores, on lifestyle departments, merchandising, and more capital investment in retail. k-mart, stores, products, business, should, sales, profits, go, year, variety, turn, tried, structure, recognize, receivership, pricing, people, page, others, one, middle, management, loss, involved, help, fiscal, expanded, done, close, class, basic, back, worse, worked, work