Snigdha Ahuja
Updated on: October 13, 2024 2:18 pm GMT
It’s a poignant moment for retail enthusiasts across the United States: the last full-size Kmart store in the continental U.S. is set to close its doors on October 20, 2024. The beloved department store, located in Bridgehampton, New York, has served the community for 25 years but will shut down as part of a larger decline faced by the Kmart brand.
Declining Legacy of Kmart
Kmart was once an iconic name in American retail, known for its “blue light specials” and expansive inventory. The Bridgehampton location is not just another store; it’s the last full-sized Kmart standing in the continental U.S., leaving only a compact store in Miami, Florida. This Miami location resembles a convenience store more than a traditional Kmart, contributing to a bitter end for a brand that once boasted thousands of locations nationwide.
Key milestones in Kmart’s history:
- Founded in 1899 by Sebastian Spering Kresge in Detroit.
- First Kmart opened in 1962 in Garden City, Michigan.
- Expanded rapidly to 2,300 locations by the early 1990s.
- Filed for Chapter 11 bankruptcy protection in 2002 and merged with Sears in 2005.
- Sears Holdings filed for bankruptcy in 2018.
Kmart’s steep decline reflects broader trends in retail, where major players have struggled to adapt to changing consumer habits, especially with the rise of e-commerce.
The Bridgehampton Store Closure
The closure of the Bridgehampton Kmart was confirmed by an employee and later verified by Kimco Realty Corp., the owner of the shopping center housing the store. This decision comes without specific reasons, as company officials did not elaborate on the circumstances surrounding the closure.
Jennifer Maisch, a spokesperson for Kimco Realty, noted that the store would close but redirected inquiries back to Kmart, which is now owned by Transformco, an investment holding company that purchased Kmart and Sears out of bankruptcy in 2019. The Bridgehampton store is situated in a 287,493-square-foot shopping center that includes other national retailers like Gap, TJ Maxx, and Ulta Beauty.
Community Impact
For many South Fork residents, the Kmart store has been a staple, providing a wide range of goods in a region that discourages big-box retailers. The nearest Walmart or Target is nearly 25 miles away in Riverhead, meaning Kmart played an important role in the local economy. The absence of competition may have allowed it to survive longer than many other locations in the chain.
Councilman Tommy John Schiavoni highlighted the community character that has been preserved by limiting larger stores. “We certainly put a lot of deference on our community character here. It’s important to us,” he remarked, indicating that local sentiments have kept big-box competitors at bay.
A Look Back at Kmart’s Rise and Fall
The origins of Kmart are traced back over a century, beginning as a humble five-and-dime under Kresge’s vision. The company grew rapidly:
- 1962: Kmart opens its first official store.
- 1966: By this time, 162 stores are scattered across the nation.
- 1990s: Kmart reaches its peak with approximately 2,300 stores and a workforce of 350,000.
However, by the early 2000s, Kmart began experiencing significant challenges, including a failure to innovate and adapt to emerging retail trends. According to business experts, Kmart’s reluctance to modernize its strategy contributed to its decline.
James E. Schrager, a clinical professor at the University of Chicago, remarked that Kmart “never found its fashion footing,” leading to a gradual erosion of its customer base as competitors like Walmart and Target forged ahead with contemporary models.
Conclusion: The End of an Era
As Kmart prepares to close its Bridgehampton store, it signifies the culmination of a once-thriving brand’s long decline. The end of Kmart as we knew it leaves a void in American retail history, marking the end of an era.
The store’s impact on the local community cannot be overstated: it served not just as a shopping destination but as a piece of local culture and everyday life. With the remnants of the Kmart brand scattered across a few remaining locations in overseas territories, the nostalgia for its heyday will linger in the hearts of many who remember its once-great legacy.
Retail is always changing, but for people who loved going to Kmart, the closing of the big store in Bridgehampton is a sad goodbye to a special part of shopping history.
