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Kmart is one of the largest discount retailers in the United States and one of the largest wholesalers in the world. Kmart operates traditional Kmart and Kmart hypermarkets as well as Kmart supermarkets, providing convenient shopping in 50 states in the United States, Puerto Rico, Guam and the Virgin Islands. Kmart's mission: Kmart will become a place for middle-class families with children to choose discounted products, and Kmart will better meet their daily and seasonal shopping needs in the competition. Born into a poor peasant family in the United States, he learned to be thrifty when he was a boy. As he was taught by a good teacher since childhood, he has developed a good habit of saving money and hopes to do great things with it in the future. After graduating from high school, Sebastian stopped his studies and found a full-time job. He gave all his wages to his parents. The parents could not bear to stop their children's studies, so they saved the money and invested it in his son's studies for him to continue to go to school. Sebastian returned to campus to study at a business school. After graduating from University, the employment environment was not very good, so he had to be a farmer first, and then a teacher and company staff. Sebastian once recalled that he had invested his savings in a bakery, but the business didn't last long. Since 1892, Sebastian has been selling special iron utensils for five years. At work, Sebastian met businessman John mccrry, who followed Woolworth to run a "five to ten cent" grocery store. In the business district at that time, except Woolworth, he was the only one who operated such a small profit and high-volume commodity store. At ordinary times, Sebastian modestly learns from John to do business. When his savings reach 8000 US dollars, Sebastian proposes to open a shop with John in partnership, hoping to officially become a business partner. John attached great importance to Sebastian's ability to be a man and to do business. He decided to accept others' Alliance. They each held half of the shares and opened a "five to ten cent" commodity store in Memphis and Detroit respectively. Sebastian became a small shopkeeper, he put all his savings and energy into the business, ready to do a big job. At that time, the population of Detroit doubled, coupled with the rise of the automobile industry, adding a lot of hope and business opportunities to the city. People flocked to the city, including Sebastian and his cousin Charles. After two years of partnership, due to differences in business philosophy, Sebastian and John broke up and went out to run one of their own stores. Sebastian offered to exchange sovereignty with John. He sold his shares in Memphis to John, then owned the Detroit store himself, with $3000 left. Sebastian reinvested the money in the Detroit store. In 1899, the real shopkeeper, Sebastian and his cousin co operated, and their surname was set as the new name of the retail store, Kresge. The retail price of Sebastian is very low, all of which are limited to 5-10 cents, and the initial number of employees is only 18. Sebastian is very economical. He doesn't keep any money in the shop except for the salary of the employees. All the money is used to open a new shop. The kresger shop soon developed from one shop to many. Seven years later, cousin Charles gradually lost his interest in retailing and decided to change his business. Sebastian had to terminate his business partnership with him. In 1912, Sebastian finally saved up and bought back Charles's shares, and became a real shopkeeper. At that time, his stores had grown to as many as 85, with sales of more than $10 million. At the beginning of last century, two kinds of labels began to be popular in the society, "time is money", which soon affected people's shopping habits. People want to buy what they want without leaving home. Kresger immediately tried mail order to cater to the fashion and increase sales. But sabatian sells cheap daily necessities, the cost of mail order exceeds the value of the product itself, and sabatian has to gradually give up this new type of sales. In order to facilitate customers' purchase, Sebastian implemented the "color label" in the small shop. He ordered the employees to use the red lettered label for the original goods. The price of these goods is still marked as 5-10 cents, while the goods with the purchase price of more than 10 cents are marked with the green lettered label. These goods are generally 25-1 US dollars. In this way, even if the price rises, the goods of kresger are still cheaper than other retail stores, and customers are willing to visit the old store. In the past 50 years, with the increasing competition in the retail industry, kresger began to advertise in newspapers. In 1918, kresger's shares were listed. Sebastian still likes to open stores and doesn't like personal consumption. He used the money accumulated by the company to develop new markets. In the 1920s, Sebastian's business model expanded to Canada, entering the international market, and soon established 19 chain stores, which are distributed in large and medium-sized cities in Canada. In 1962, kresger opened a Kmart discount store in garden city. Although the business situation did not improve immediately, by reducing dividends, the company still has enough funds to open 17 new Kmart national chain discount stores. Subsequently, Kmart entered another peak of development. Kmart became a large discount chain store in the United States. When Wal Mart was founded, it was the division of Wal Mart. From its strength, it was enviable. In 1966, when 99 year old Sebastian died after retirement, Kmart entered a new era. In 1977, the name of kresger company was officially changed to Kmart group company. Once again, the company adjusted its business direction, which was not successful. Under the impact of Wal Mart and other new discount chains, Kmart looks old, and the company seems to have lost its development direction. Kmart focuses on expanding new stores and reducing the size of stores, which makes its management unable to keep up with the rising cost of operation, and quickly loses the price advantage of goods. Customers flock to Wal Mart and target. At the same time, the company turned to diversified operation, and successively merged a number of clothing companies, drugstores, bookstores and catering companies. The number of employees reached 144000, and the overall quality was low. In addition, the blind expansion of the storefront and the neglect of the in store management have resulted in a serious decline in the shopping environment, a vague commodity positioning, a lack of both high-quality products and price attractiveness. Kmart turned to Credit Suisse, First Boston and other four companies for help, and soon got a $2 billion loan. In order to make a comeback, the company decided to stop operating leases of 284 retail stores and cut 37000 jobs. More importantly, in front of many Liu Shou, such as Wal Mart, Sears, gap, target, etc., the company has made clear its market positioning, turned to brand management, concurrently operated other individual brands, and temporarily differentiated with its competitors. At the same time, the company greatly improved the hardware facilities, adopted ISP blue light online shopping device, and encouraged consumers to shop online. Installation of computer kiosks, implementation of "virtual storage room" and so on. In the second quarter of 2003, Kmart successfully stepped out of bankruptcy protection and was reborn.

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