Page 1. Anne Foss October 8, 2004 MT 460 01 Management Policy and strategies Lesson Project 1 K-mart Kmart was founded in 1899, it was known as the SS Kresge store. In 1912 the firs was incorporated and had 85 stores with sales of $10,325,000. Next to Woolworth's it was the largest variety chain. In 1957 Harry Cunningham became General Vice President. In 1962 the first K-Mart was opened as a one-stop shopping unit. It was where you could by a variety of goods at closeout prices. …
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…is compared to theirs. I would not even try to sell specialty products until the sales show profits for at least 1 fiscal year. Then gradually add to the line of products. I would rather see them do this and close several stores than to lose the whole business totally to bankruptcy or go into receivership. If done correctly they should be able to compete with Wal-Mart and others stores of the same field of business.