Price Shorts
Description: **Kmart** is an American retail chain that was founded in **1899** as **S.S. Kresge Company** and rebranded as Kmart in **1962**. It became one of the largest discount department store chains in the U.S., known for its **Blue Light Specials** and wide range of affordable merchandise. At its peak in the 1990s, Kmart operated thousands of stores nationwide. However, competition from Walmart, Target, and online retailers led to a steady decline. Kmart filed for **bankruptcy in 2002** and later merged with **Sears** in 2005. Despite efforts to revitalize the brand, most Kmart stores have closed, and only a few remain open today.
Description: Price Club was a warehouse store chain, founded by Sol Price in San Diego, California. Price devised the Price Club concept in 1975 after being forced out of FedMart, another retail chain he founded. Price and a few of his friends put up $2.5 million in capital to open the first Price Club on July 12, 1976 in San Diego. Price Club would eventually merge with one of its competitors and the combined company would go on to become the global leader in the wholesale shopping club space with more than 800 warehouses worldwide as of 2021.
