Kmart

Kmart is an American chain of discount department stores headquartered in Hoffman Estates, Illinois, United States. The chain purchased Sears for $11 billion in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Walmart and Target, with stores in the United States, Puerto Rico, the U.S. Virgin Islands, and Guam. It also previously operated stores in Canada, Mexico, and Eastern Europe. As of October 20, 2014, the company operated a total of 1,077 Kmart stores. In 2013 it had operated 1,221 in 49 states, Guam, Puerto Rico, and the U.S. Virgin Islands, including 1,196 discount stores, averaging 94,000 sq ft, and 25 Super Centers, averaging 168,000 sq ft. Kmart became known for its "Blue Light Specials." They occurred at surprise moments when a store worker would light up a mobile police light and offer a discount in a specific department of the store.