Kmart and Sears Merge
Troy, Mich.–based discount retailer Kmart bought Hoffman Estates, Ill.–based department store chain Sears, Roebuck and Co., creating the country’s third largest retailer with combined annual revenues of $55 billion, 2,350 full-line stores and 1,100 specialty stores. The combined company will be known as Sears Holdings and each store will retain its own brand identity.
