A closed Kmart in New York’s East Village in July 2021. Photo: Spencer Platt/Getty Images
Kmart — once a retail giant with well over 2,000 U.S. stores — will be down to just three after its store in Avenel, New Jersey, closes on April 16, AP reports.
Why it matters: The retail world now is dominated by Walmart, Target and Amazon.
The big picture: Kmarts will continue to operate in Westwood, N.J., Bridgehampton, on New York's Long Island, and in Miami.
- Kmart's decline has been steady: The company filed for Chapter 11 bankruptcy in early 2002, per AP, becoming the largest retailer to do so.
Go deeper: Pop-up digital ads are taking over the freezer aisle