Once upon a time, the world of big-store retail was dominated by Kmart — not Walmart or Target or Amazon. That dominance is over, though, and Kmart is on its last legs.

What happened? How did the company have such a massive fall from grace? That’s what we’re going to explore today. This is the history of Kmart — from its beginning to its peak to its near collapse.

Everyone’s gotta start somewhere. For Kmart, it was in the deep Midwest of Detroit, Michigan. Only it wasn’t named Kmart at first. Instead, it was dubbed the S.S. Kresge Company — an absolute mouthful of a name. That name came from its original founder Sebastian S. Kresge, who opened up shop in 1899.

At first, the store was a discount one. Back in the 19th century, these were called five-and-dime stores because items usually cost around that five-cent to ten-cent mark. Because of inflation, these are what we call dollar stores today. 

The Detroit store succeeded, which naturally meant expansion. By 1912, the store had 85 locations across the United States. 

However, the Kmart you know and remember didn’t really come to fruition until 1962. That’s when the first-ever Kmart store opened in Garden City, Michigan. As you can guess, the K in the name represents the original founder, Kresge, who died only four years after this new start began.

Once the name changed, the Kmart franchise saw an explosion in popularity the rest of that decade and into the ‘70s. It became one of, if not, the leading discount retailers stateside. By this time, the five-and-dine concept was outdated. But Kmart still was about discounted items at its core and infiltrated every corner of the US — from the lucrative California market to middle-of-nowhere Nebraska. ​

At this point, Kmart and bankruptcies go hand in hand. It’s happened on several different occasions, and the fact that Kmart is still standing after them is a small miracle in itself. 

Kmart was riding high going into the ‘80s but the competition also stiffened. Most notably, Target and Walmart came for Kmart’s neck with similar discount pricing. Once Kmart lost its status as the cheapest place to buy so-and-so household items, it’s market differentiator was gone.

From this point on, Kmart became a hot-potato type of brand. In 1984, it was acquired by retail holding company, American Fare Inc. They took out significant debt to make the deal happen, which ended up hurting Kmart and the holding company at-large. These financial constraints led to Kmart filing for its first Chapter 11 bankruptcy in 1990. 

This is the first time that Kmart dodged permanent closing. It never reached its previous business peak as competition intensified, but it stayed afloat thanks to restructuring and constant management changes. 

Business continued to ebb and flow into the ‘90s before they went bankrupt once more in 2002, once again via Chapter 11. Though for a second time, it managed to stay alive.

In fact, the now-Kmart Holdings Company tried to expand to salvage the business. During the mid-00s, it acquired the Sears brand — which was the number-one retailer in the pre-Kmart days. 

However, both Kmart and Sears continued to hemorrhage money in the ensuing years. Each brand was representative of a time bygone. This was also the time when e-commerce and Amazon became a thing — which caught the Kmart Holdings Company flat-footed again. The organization never quite figured out the Internet, which proved to be its death sentence. 

In 2018, bankruptcy came falling again — this time for good. When it reported for Chapter 11 bankruptcy, numerous stores up and down the United States began closing up shop. This piled up until Kmart was left as a skeleton of its former self.

In 2022, Kmart closed down its store in Avenel, New Jersey — just 15 miles south of New York City. With that, the franchise is left with three stores still standing. Only three — a far cry from the 2,300 or so it had in the ‘90s.

The last standing stores are as follows: 

• Westwood, New Jersey
• Bridgehampton on New York’s Long Island
• Miami, Florida

There’s a few other stores worldwide, but these are the last holdouts on the continental United States. And honestly, all three are in danger of permanently closing themselves. We could be a few short years away from Kmart being gone for good.

This is more than just a nostalgia piece on the once almighty brand known as Kmart. No, we want it to be a case study on where and why Kmart went wrong. That’s why we wanted to close out this article with business lessons from Kmart’s collapse. Here’s what future retailers can learn from Kmart.

The first is the importance of adaptability. Society will change. Technology will change. Consumers will change. It’s on individual businesses to monitor these changes and adapt accordingly.

Kmart failed to do that — most notably with the Internet. Not being able to predict consumers would turn to Internet buying is almost laughable in hindsight. Kmart was sagging when the Internet came to be, but if they would’ve pivoted and rode the new trend, they could’ve easily revived themselves. Alas, it was not to be.

Lesson number two is on differentiation. If you’re successful, competitors will copy you and what makes you different. For Kmart, that was steep discounted prices. Businesses have to be prepared for these types of events, and find a way to differentiate themselves some more.

Kmart did not do that. If anything, their competitors became better discounters, which stole their reputation for low prices right underneath their noses. Kmart had nothing else to fall back on (e.g. top-notch customer service or unique product offering), which made them forgettable for consumers. Forget long enough and you end up with only three stores left as Kmart currently sits.

​Many of us look forward to retirement. With no stress about work, early mornings, or traffic, you can finally enjoy your life full-time in your golden years. However, retirement also means you may lose part or all of your income and, subsequently, your financial stability.

So how do you navigate this and ensure you have enough money? The best way is to save as much money as you can, as early as you can. Research shows that about 15% of your annual income should go to your retirement savings if you start early. However, if you plan to wait till later to save, you might need to contribute more.

This article will discuss different saving strategies that can help you maximize and enjoy your golden years. Read on.

Take advantage of senior discounts 
Senior discounts are a good way to save money for your retirement. If you’re over 50, you can take advantage of these discounts across a range of goods and services. Money saved through these discounts can instead be channeled into your retirement plans.

DontPayFull.com is a platform where you can find coupons for senior discounts at restaurants, entertainment venues, transportation companies, and retail stores. You can even get more discount privileges when you join the American Association of Retired Persons (AARP). Getting between 10% and 50% off regular goods and services can go a long way in helping you save for retirement.

Create a bear market fund 
Investing in the stock and crypto market means entering the bear and bull markets. A bear market is a condition where prices are falling, while a bull market is characterized by rising prices. During a bullish market, you can withdraw money from your portfolio, but during a bearish market, withdrawing money from your investment portfolio could be a disadvantage. You could deplete your assets faster and miss out on the recovery phase. However, this strategy is not always advisable for every investor or in every situation, and should be approached based on your financial goals and market outlook.

To help protect your investments during a bear market, consider having an emergency savings account. This account should have enough money to cover up to three years. That way, when the market is down, you won’t have to withdraw money from your investment accounts.

When creating and withdrawing from your emergency savings account, factor in guaranteed income. For example, if the guaranteed income can cover 50% of your bills, only withdraw the remaining 50% from your emergency funds. This will prevent your emergency funds from depleting and cover you in the next bear market. 

Cut back on your expenses 
Unplanned discretionary expenses, such as leisure and entertainment, can mess up a well-laid retirement financial plan. You can’t do away with light bills, groceries, and other essentials, but you can reduce your non-essential expenses.

For example, switching from cable television to subscription-based channels can help you save up to USD$100 per month. Additionally, you can reduce the number of times you dine out in favor of cooking at home. You can also consider cutting your phone expenses. Look for mobile carriers that provide low-cost plans for seniors. You can also bundle friends and family, as it breaks down into a more affordable option than individual plans.

Be smart with your withdrawals 
Withdrawals will directly impact your savings during your golden years. Being smart with your withdrawals means you can stretch your funds for a longer period. One rule you can use to manage your withdrawals is the 4% rule. This rule states that retirees can withdraw 4% of their retirement savings annually and then adjust that amount every year thereafter for inflation.

The 4% rule is often associated with a balanced portfolio (like 50% stocks and 50% bonds), but it doesn’t dictate a strict allocation. Experts propose a mix of stocks, bonds, and cash, but the exact mix will depend on a person’s risk tolerance and market conditions.

The 4% rule is commonly associated with a retirement horizon of 30 years. If you plan to retire for a longer or shorter period, you must adjust your withdrawal strategy accordingly to ensure that your money lasts. 

Conclusion 
Saving for retirement is an intelligent way to ensure you’re financially stable during your golden years. You can still pay bills, travel, and invest without feeling strained. However, there are several strategies you should employ to avoid running out of finances in the first few years of retirement.
Taking advantage of senior discounts, making smart withdrawals, and cutting expenses will help you live within your means. Follow these and other saving strategies to maximize and enjoy your golden years.

Managing diabetes can present unique challenges, especially during the holiday season. However, with a few practical strategies in place, you can enjoy the festivities while keeping your health at its best.
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Here are five steps to help make managing diabetes more manageable when the winter break lands.

Diabetic socks are not just typical footwear. Especially designed to improve circulation, they work wonders in preventing foot-related complications common in diabetes.
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For instance, diabetic socks for men from Circufiber provide superior comfort and protection due to their pressure-free nature and heat-retaining qualities. Wearing these can make a significant difference, helping you stand firm on your feet during holiday celebrations.

Holiday feasting doesn't have to mean losing control of your healthy diet. You can enjoy festive treats while keeping your blood sugar stable by incorporating diabetes-friendly holiday recipes into your meal plan.

Managing your diet is crucial during the holidays, especially for those with diabetes. One way to stay on track is to consider incorporating fresh meal prep kits into your holiday meal plans. These kits provide pre-portioned ingredients and easy-to-follow recipes tailored to maintain balanced nutrition, saving you time and reducing stress in the kitchen. By utilizing such services, you can focus more on enjoying time with loved ones without compromising your health.

Here are a few tips:

• Focus on foods rich in fiber: They help slow down the absorption of sugar into the bloodstream, reducing spikes in blood glucose levels.
• Opt for lean proteins and healthy fats: These choices will fill you up without sending your sugar levels soaring.
• Incorporate more non-starchy vegetables: Fill half of your plate with these low-carb options to help balance out heavier holiday fare.

Be proactive about incorporating these changes, and make this year’s holiday season healthier than ever before.

A hectic holiday schedule can disrupt your regular workout routine. But maintaining consistency in exercise is especially important when managing diabetes. Staying active lets you improve insulin sensitivity and help control blood sugar levels, while also being a good way to live longer.
Here are some practical tips:

• Make workouts a family event: Encourage everyone to join for a walk or a fun exercise session at home.
• Break up activity into manageable chunks: Even 10-minute bursts of movement can add up throughout the day.
• Utilize everyday activities: Turn chores or shopping trips into mini-workouts by increasing speed or intensity.

Even small changes can make a big cumulative difference, so incorporate these strategies to stay moving despite the hustle and bustle of the holidays.

Holidays can often be stressful, and for those managing diabetes, stress can lead to fluctuations in blood sugar levels. Therefore, it's essential to make time for relaxation.
Here are some techniques that could help:

• Practice mindfulness: Through meditation techniques or yoga, you can create a space of calm in the holiday rush.
• Indulge in self-care: A hot bath, reading a favorite book or listening to calming music can significantly reduce stress.
• Stay connected with loved ones: Sharing moments of joy and laughter is an excellent mood booster.

Pacing yourself during this busy period is a must, and these relaxing routines mean you'll be better equipped to manage your health throughout the festive season.

It's important to remember that managing diabetes during the holidays doesn't just involve you. It involves your loved ones, too. Therefore, it's crucial to communicate your needs effectively.
Consider these tips:

• Be direct and clear: Explain why certain changes (to meals or activities) are necessary for you.
• Share educational materials: Providing informational handouts about diabetes can aid understanding.
• Show gratitude for their support: Appreciation goes a long way in strengthening bonds of understanding and respect.

Strong communication ensures that everyone is on the same page with regard to your health management. Taking this step ensures that you will not only support yourself but also help others understand better how they can contribute to making your holidays more enjoyable.

​As with any aspect of managing your life as a diabetic, putting in plenty of planning ahead of the holidays will deliver the best results. Start now, and you’ll thank yourself later.

Moving forward after the death of a loved one in a hospital is an incredibly challenging and emotional journey. Coping with grief while navigating practical matters can be overwhelming, but with time, support, and self-care, it is possible to find a way forward. Here are some ways to cope and move forward after the loss of a loved one in a hospital:

Allow Yourself to Grieve
Grieving is a completely natural and necessary process after the loss of a loved one. Allow yourself to feel all the pain, sadness, anger, and confusion that often accompany grief. Don’t rush the process; give yourself permission to mourn in your own time and in your own way.

Attend to Practical Matters
Dealing with the practical aspects of your loved one’s passing can be overwhelming, but it’s necessary. You may need to handle funeral arrangements, financial matters, and legal paperwork. Enlist the help of a trusted friend or a family member if necessary, and consider seeking legal or financial advice if the situation is complex.

Seek Professional Support
Consider talking to a therapist, counselor, or grief support specialist if your grief becomes overwhelming or prolonged. Professional support can provide you with coping strategies and a safe space to express your emotions, helping you navigate the complexities of grief. As you try to process your feelings of grief, the last thing you want to do is fight back against the hospital when you believe the passing of your loved one was premature due to a hospital error. Instead, you’ll want to seek more professional support, just in the form of an emergency room errors lawyer. The more appropriate professional support you can lean on during this difficult time, the better.

Create a Memorial
Honoring your loved one’s memory can be a comforting way to cope with their loss. Create a memorial, such as a scrapbook, a memorial website, or a charitable foundation in their name. Engaging in activities that celebrate their life can help you focus on the positive memories you shared.

Take Care of Yourself
The truth is grieving can take a toll on your physical and emotional well-being. It’s essential to prioritize self-care during this difficult time. Ensure you’re getting enough rest, eating nourishing meals, and still engaging in gentle exercises like walking or yoga. Avoid harmful coping mechanisms, such as excessive alcohol or substance use, as they can impede the
healing process.

Allow Yourself to Remember
It’s natural to fear forgetting your loved one, but memories persist even as grief lessens. Embrace the memories, both joyful and painful, and allow yourself to reminisce about the times you shared. Talking about your loved one with others who knew them can also be healing.

Find Meaning
In the midst of grief, some people find solace in finding meaning or purpose. This could involve volunteering, joining support groups, or advocating for causes related to your loved one’s illness or passion. Finding a purpose can provide a sense of fulfillment and help you channel your emotions constructively.

Take One Day at a Time
Grieving is a deeply personal journey, and there is no right or wrong way to cope. Take each day as it comes, be patient with yourself, and don’t rush the process. Healing takes time, and it’s okay to have good and bad days. Celebrate your progress, no matter how small it may seem.