K-Mart buys SEARS

[LeVeL]

"Watch out Walmart"
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NEW YORK (CNN/Money) - Kmart is buying Sears, Roebuck & Co. for $11 billion in a deal that will marry two of the nation's oldest, but troubled, retailers into the No. 3 retail chain.

The deal, announced by the retail chains Wednesday morning, is meant to merge the best of both companies' brands. The new company will be known as Sears Holdings and be based at Sears headquarters outside Chicago. But both names will continue to be used on stores.

Kmart's strength is clothing and home accessories, with such brands as Thalia Sodi, Jaclyn Smith, Joe Boxer and Martha Stewart Everyday products.

Sears' has long been known for its Craftsman tools and Kenmore appliances, and while it's struggled in clothing and other soft lines, it bought Lands' End, and developed youth-oriented Apostrophe brand, to try to fill those holes.

For consumers, the deal means being able to get appliances and other hard goods at Kmart and more clothing at Sears -- and could mean better deals as the chains try to compete.

Sears is still the biggest retailer of major appliances in the United States, although it has been losing customers to competitors, according to Marshal Cohen, chief retail analyst with market research firm NPD Group.

"Imagine going into Kmart and buying a Sears Craftsman tool set, or buying Kmart's Martha Stewart home products at Sears," Cohen said. "To Kmart shoppers, Lands' End may not mean anything, but now it will."

The new company will continue to operate both Sears and Kmart stores but "several hundred" Kmarts will be converted to Sears, Sears Chairman Alan Lacy said at a news conference announcing the deal Wednesday. The companies currently operate about 3,500 stores combined.

"Sears has had a very different problem from Kmart," Lacy said. "Our service and products are as good as our competitors but they're not where are customers are. This now gives us the opportunity to grow off-mall locations closer to the customer. It's all about growth."

"We'll have work to do ahead converting Kmart stores into Sears where appropriate and (to) bring some of Sears' products into Kmart. The idea is to make the stores more competitive while staying focused on the customer," Kmart Chairman Edward Lampert told analysts and reporters Thursday.

"Kmart never had appliances and had no reputation for service," said Kurt Barnard, an independent retail analyst. "That's an honor that belongs to Sears. And Kmart has a reputation for low prices, which Sears never has had."

But Barnard and other analysts said the combined company will still face stiff competition from more successful names in retailing, and that store closings were likely.

The merger should help the new company compete against Wal-Mart Stores (Research), the world's largest retailer and an aggressive discounter, as well as Home Depot (Research), the home improvement chain that ranks as the country's No. 2 retailer overall, and Target (Research), which will lose its place as No. 3 to the combined Sears-Kmart.

Investors applauded the deal. Sears (up $10.34 to $55.54, Research) stock soared 22 percent while Kmart jumped about 17 percent in late morning trading.

[fairyDust]

Who cares! ;D :P

[LeVeL]

Originally Posted by fairyDust

Who cares! ;D :P

I do...now I can get my Martha Stewart Bed Sheets at SEARS...lol ;D

[fairyDust]

Originally Posted by LeVeL'

[quote author=fairyDust link=board=6;threadid=9299;start=0#msg106101 date=1100717036]
Who cares! ;D :P

I do...now I can get my Martha Stewart Bed Sheets at SEARS...lol ;D
[/quote]

That's awesome!

lol..

[V. Barbarino]

me and my brothers would get stoned and just wander around the craftman section. love the tool section...

I think this is a great move on thier part, but how the fuck did chapter 11 kmart spend 11 billion bucks???

[web_norah]

[fairyDust]

Originally Posted by web_norah

I don't know if this was a joke or not, but I heard in the radio that she was writing a Jail Cookbook ???

[LeVeL]

Originally Posted by fairyDust

[quote author=web_norah link=board=6;threadid=9299;start=0#msg106117 date=1100717846]

I don't know if this was a joke or not, but I heard in the radio that she was writing a Jail Cookbook ???
[/quote]

LOL...I heard she was complaining the other day because they wouldn't let her no where near the kitchen for she can cook. Some nerve let me tell you, she forgets that she in jail. By the way Martha Stewart Livings' Shares went up also because of this move . So Martha got richer let me tell u..

[LeVeL]

Originally Posted by The

I think this is a great move on thier part, but how the fuck did chapter 11 kmart spend 11 billion bucks???

You know something...I was asking myself the same question. Its a total 360 from last year at this time.

[web_norah]

free Martha >