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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

Kmart down to last 3 stores

It was once a retail giant with well over 2,000 U.S. stores.

A closed Kmart in New York’s East Village in July 2021.

A closed Kmart in New York’s East Village in July 2021. Photo: Spencer Platt/Getty Images

Retail

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, <a class="gtmContentClick" data-vars-link-text="AP reports" data-vars-click-url="https://apnews.com/article/business-new-york-city-new-york-new-jersey-lifestyle-9e06f958526665df9f7c9422f67516ef?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosam&amp;stream=top" data-vars-content-id="a0b70b0b-1fbc-44a0-a0c3-332bdedb9581" data-vars-headline="Kmart down to last 3 stores" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://apnews.com/article/business-new-york-city-new-york-new-jersey-lifestyle-9e06f958526665df9f7c9422f67516ef?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosam&amp;stream=top" target="_blank">AP reports</a>. Why it matters: The retail world now is dominated by Walmart, Target and Amazon.

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Economy

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

Kmart down to last 3 stores

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