Posted on 11/17/2004 3:37:25 AM PST by bikepacker67
NEW YORK (Reuters) - Sears, Roebuck & Co. and Kmart Holding Corp. on Wednesday said they would merge in an $11 billion deal to form the third-largest U.S. retailer.
The companies said in a joint statement that the new company, Sears Holdings, will have about $55 billion in annual revenues, 2,350 full-line and off-mall stores, and 1,100 specialty retail stores.
Fon't the French own K-Mart?
Kears?
Sear-Mart would be hot.
S-Mart?
Sears will be introducing Martha Stewart designer license plates in their auto shops. Each pair will be personally made by Martha from prison.
Leni
How about S-Mart?
K-Mart is a publicly traded company on the NYSE. Sears is as well.
This is a huge surprise, if this is true. There has been absolutely no talk about a merger of this kind at all.
K-Mart has been talking about moving their company headquarters within the state of Michigan, possibly to the Grand Rapids area, or to another state. There has been no talk that in the Michigan papers that K-mart was looking for a partner.
Now there will be "Big S" stores? This is a Mutt and Jeff union.
I'm greatly surprised, too.
But looks like AP has the story, too:
http://story.news.yahoo.com/news?tmpl=story2&u=/ap/20041117/ap_on_bi_ge/kmart_sears_merger
Sears is very interested in breaking out of their mall type anchor store mold to compete with the likes of Wally world.
Two companies with two failed business plans merge.
Sounds like a plan for success.
Hm, so there could be co-brand stores at K Mart sites? Or they would just close the K-Mart and open a Sears.
Here in Kalifornia they will probably go for a niche market and call the store Kasa-Marto
Willie Green is going to have dozens of stories to put up as vendors and staff are cut out of these tow old line companies.
What this also does is give more market exposure for the newly merged company, with K-mart being the cheap cousin, and Sears being the middle-class cousin.
When you mentioned Sears HQ in Chicago I mentally pictured what a "K-Mart Tower" would look like.
"Shop smart, Shop S-Mart"
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