Page 11 - aruba-today-20220412

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business Tuesday 12 april 2022
Once a retail giant, Kmart nears extinction after closure

By DAVID PORTER Kmart and Sears, did not
Associated Press respond to an email seek-
AVENEL, N.J. (AP) — The ing comment and a phone
familiar sights and sounds number listed for the com-
are still there: the scuffed pany was not taking mes-
and faded floor tiles, the sages.
relentless beige-on-beige Nationwide, some former
color scheme, the toddlers' Kmarts remain vacant while
clothes and refrigerators others have been replaced
and pretty much every- by other big-box stores, fit-
thing in between. ness centers, self-storage
There's even a canned re- facilities, even churches.
cording that begins, "At- One former site in Colorado
tention, Kmart shoppers" Springs, Colorado, is now a
— except it's to remind folks popular dine-in movie the-
about COVID-19 precau- ater.
tions, not to alert them to a Employees at the Kmart
flash sale over in ladies' lin- in Avenel found out last
gerie like days of old. month that the store would
Many of the shelves are close.
bare, though, at the Kmart Unlike 20 years ago, when
in Avenel, New Jersey, news of impending Kmart
picked over by bargain closures around the coun-
hunters as the store pre- try prompted an outpour-
pares to close its doors for ing of support from loyal
good April 16. People walk into a Kmart in Avenel, N.J., Monday, April 4, 2022. When the New Jersey store closes shoppers and a Detroit ra-
Once it shutters, the num- its doors on April 16, it will leave only three remaining U.S. locations for the former retail power- dio station even mounted
ber of Kmarts in the U.S. house. a campaign to try and
— once well over 2,000 Associated Press save a local store, the clos-
— will be down to three in ing of the Avenel location
the continental U.S. and a a flashing blue orb affixed coincidentally began its It didn't have to end this was met mostly with an air
handful of stores elsewhere, to a pole that would beck- life within months of Kmart's way, according to Mark of resignation.
according to multiple re- on shoppers to a flash sale founding in 1962. Cohen, director of retail "It's maybe a little nostal-
ports, in a retail world now in progress. Part of its suc- Struggling to compete with studies at Columbia Uni- gic because I've lived my
dominated by Walmart, cess was due to its early Walmart's low prices and versity in New York and whole life in this area, but
Target and Amazon. adoption of layaway pro- Target's trendier offerings, former CEO of Sears Can- it's just another retail store
The demise of the the store grams, which allowed cus- Kmart filed for Chapter 11 ada. Trying to compete closing," said Jim Scha-
in the middle-class suburb, tomers who lacked credit bankruptcy protection in with Walmart on price was ber, a resident of nearby
15 miles (24 kilometers) to reserve items and pay early 2002 — becoming a foolish strategy, he said, Iselin who said his brother
south of New York City, is for them in installments. the largest U.S. retailer to and Lampert was criticized worked in the shoe depart-
the tale of the death of the For a time, Kmart had a take that step — and an- for not having a retail back- ment at Kmart for years. "It's
discount department store little bit of everything: You nounced it would close ground and appearing just another sign of people
writ small. could shop for your kids' more than 250 stores. more interested in stripping doing online shopping and
"You're always thinking back-to-school supplies, A few years later, hedge off the assets of the two not going out to the retail
about it because stores are get your car tuned up and fund executive Edward chains for their cash value. stores."
closing all over, but it's still grab a meal without leav- Lampert combined Sears "It's a study in greed, ava- The closing packed a lit-
sad," said cashier Michelle ing the premises. and Kmart and pledged to rice and incompetence," tle more of an emotional
Yavorsky, who said she "Kmart was part of Amer- return them to their former Cohen said. "Sears should punch for Mike Jerdonek,
has worked at the Avenel ica," said Michael Lisicky, greatness, but the reces- have never gone away; a truck driver who re-
store for 2 ½ years. "I'll miss a Baltimore-based author sion and the rising domi- Kmart was in worse shape, called shopping at Kmart in
the place. A lot of people who has written several nance of Amazon con- but not fatally so. And now Brooklyn and Queens in his
shopped here." books on U.S. retail history. tributed in derailing those they're both gone. younger days.
In its heyday, Kmart sold "Everybody went to Kmart, goals. Sears filed for Chap- "Retailers fall by the way- "It's like history passing right
product lines endorsed by whether you liked it or not. ter 11 in 2018 and currently side sometimes because in front of our eyes," he said
celebrities Martha Stewart They had everything. You has a handful of stores left they're selling things peo- as he sat in his car outside
and Jaclyn Smith, spon- had toys. You had sport- in the U.S. where it once ple don't want to buy," he the Avenel store. "When I
sored NASCAR auto rac- ing goods. You had candy. had thousands. continued. "In the case was younger I didn't have
es and was mentioned You had stationery. It was Kmarts continue to operate of Kmart, everything they any money, so it was a
in movies including "Rain something for everybody. in Westwood, New Jersey; used to sell, people are good place to shop be-
Man" and "Beetlejuice." This was almost as much Bridgehampton, on New buying but they're buying it cause the prices were
It was name-dropped in of a social visit as it was a York's Long Island, and Mi- from Walmart and Target." cheap. And to see it gone
songs by artists from Emi- shopping visit. You could ami. Transformco, which owns right now, it's kind of sad."q
nem to the Beastie Boys to spend hours here. And
Hall & Oates; in 2003, Emi- these just dotted the Amer- LIKE US ON
nem bought a 29-room, ican landscape over the
suburban Detroit mansion years."
once owned by former Kmart's decline has been
Kmart chairman Chuck slow but steady, brought
Conaway. about by years of falling
The chain cemented a sales, changes in shopping
place in American culture habits and the looming Facebook.com/arubatoday/
with its Blue Light Specials, shadow of Walmart, which