Kmart Merges with Sears

Watch out Walmart!  You now have a 2nd major competitor!   Aren't you sick of the ridiculous lines at Walmart?   Normally, I go to Target, but they seem to don't have as big of a selection as Walmart.

Combination Creates 3rd Largest U.S. Retailer With $55 Billion

  in Annual Revenues; Will Have Broader Retail Presence and Improved Scale and Operational Efficiency

Kmart Holding Corporation (NASDAQ:KMRT - News) and Sears, Roebuck and Co.
(NYSE:S - News) announced today they have signed a definitive merger
agreement that will combine Sears and Kmart into a major new retail
company named Sears Holdings Corporation. Sears Holdings will be the
nation's third largest retailer, with approximately $55 billion in
annual revenues, 2,350 full-line and off-mall stores, and 1,100
specialty retail stores.

Both Sears, Roebuck and Kmart have made significant strides in
transforming their organizations, and the merger will further
accelerate this process for both companies. Sears Holdings will be
headquartered in Hoffman Estates, IL, and Kmart will continue to have
a significant presence in Troy, MI. The combined business will have a
broader retail presence and improved scale through a national
footprint of nearly 3,500 retail stores. The combined company will
also benefit from improved operational efficiency in areas such as
procurement, marketing, information technology and supply chain
management.