Kmart's Ten Deadly Sins: How Incompetence Tainted an American Icon

By Marcia Layton Turner | Go to book overview

Discount Retail Timeline*

1879 F.W. Woolworth opens its first five-and-dime.

1899 S.S. Kresge Company founded by Sebastian S. Kresge.

1912 S.S. Kresge incorporates with 85 stores and sales of more than $10 million.

1918 S.S. Kresge Company becomes a publicly traded company on the NYSE.

1962 The first Kmart discount department store opens in a Detroit suburb, followed by 17 more that same year; Sam Walton opens first Wal-Mart store in Rogers, Arkansas.

1966 Sebastian Kresge dies at age 99; Kmart has 162 stores.

1968 Wal-Mart begins opening stores outside of Arkansas.

1970 Wal-Mart opens first distribution center and headquarters in Bentonville, Arkansas; chain has 38 stores.

____________________
*
*Adapted from Kmart corporate web site, Wal-Mart corporate Web site, CNN/Money timeline from January 22, 2002.

-xi-

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Kmart's Ten Deadly Sins: How Incompetence Tainted an American Icon
Table of contents

Table of contents

  • Title Page *
  • Contents v
  • Acknowledgments vii
  • Preface ix
  • Discount Retail Timeline xi
  • Introduction 1
  • Notes 11
  • 1 - Brand Mismanagement 13
  • Notes 36
  • 2 - Not Knowing Its Customers 37
  • Notes 58
  • 3 - Underestimating Wal-Mart 61
  • Notes 75
  • 4 - Lousy Locations 77
  • Notes 98
  • 5 - Ignoring Store Appearance 99
  • Notes 120
  • 6 - Technology Aversion 121
  • Notes 142
  • 7 - Supply Chain Disconnect 145
  • Notes 164
  • 8 - Loss of Focus 165
  • Notes 186
  • 9 - Strategy Du Jour 187
  • Notes 204
  • 10 - Repeating the Same Mistakes 205
  • Notes 226
  • Conclusion 227
  • Notes 236
  • Bibliography 237
  • Index 247
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