Kmart, Once Bigger Than Walmart, to Close Last Full-Size Store in the US

The final full-size Kmart in the U.S. is set to close by the end of October, store employees confirmed.

The retail giant, which was once larger than Walmart, will close its last location in the Hamptons in Bridgehampton, New York, on Oct. 20, a store employee told WJAR on Sunday.

Once the Hamptons location closes, the only Kmart left in the mainland U.S. will be a smaller-scale Kmart in Miami, Florida. Guam and the U.S. Virgin Islands will still have their big-box locations since they don't "face competition from more successful big-box stores," the company said in announcing the move.

Kmart's decline has largely been attributed to the success of other big-box retailers such as Walmart and Target, as well as the surge of online shopping, as reported by CNN.

The retailer was one of the first to open a big-box store in 1962, but despite major success until 1990 when it was surpassed by Walmart, the company filed for bankruptcy in 2002.

Since merging with Sears in 2005, Kmart has slowly been closing locations across the country. Sears Holdings, Kmart and Sears' parent company, filed for bankruptcy in 2018.

Hedge-fund CEO and operator Eddie Lampert "appeared more focused on selling off real estate the two companies had along with other assets ... rather than investing in either chain," CNN reported. At the time of the merger, there were about 1,400 Kmart and 900 Sears locations, and by 2018 only 231 Sears and 191 Kmart locations remained.

Kmart, which was founded in 1899 in Detroit, was known for the phrase "Attention Kmart shoppers," which would alert customers to 15-minute "blue light specials" where select in-store products would go on sale.