Kmart, sometimes styled as “K-Mart,” is a chain of large discount stores. Sears bought the chain in 2005, forming a new company under the name of Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and Target stores in the United States, Puerto Rico, U.S. Virgin Islands and Guam (which houses the largest Kmart in the world). At January 30, 2010, Kmart operated a total of 1,327 (13 close by the end of May) Kmart stores across 49 states, Guam, Puerto Rico and U.S. Virgin Islands. The 1361 number of stores including discount stores, averaging 92.000 square feet (8,500 m2) and 29 Super Centers, averaging 165,000 square feet (15,300 m2).
Kmart became known for its “Blue Light Special.” That came as a surprise when a warehouse worker came on a mobile police light and offer a discount of a specific department of the store. At the top of the popularity of Kmart, the phrase “attention Kmart customers,” also entered the American popular psyche, appearing in films and other media like Troop Beverly Hills, Six Days Seven Nights, Beetlejuice, and dawn of the Dead.
Kmart world headquarters is in Troy, Michigan in a sprawling complex which, since Kmart’s relocation to Illinois, has been slated for demolition. Kmart also exists in Australia and New Zealand (see Kmart Australia), but now has no relation to American stores except in name after U.S. equity the company in Australia was acquired in late 1970.