The Eden Prairie Center is a mall located in Eden Prairie, Minnesota . It has been managed by Jones Lang LaSalle as of 2020. It is anchored by Kohl's , Target , Von Maur and Scheels Sporting Goods.
61-405: The mall was developed in 1976 by Homart Development Company and originally had wood and glass railings and an overall off-white and brown theme. The pillars in the mall were made of white pebbles. There was no elevator in the mall and originally the mall featured a large ramp for access to the second floor by wheelchair. The mall was designed with a sunken basement-level foodcourt. The mall featured
122-470: A Mervyns , and work began on adding a Kohl's department store. A second United Artists movie theater was built, called "Eden Prairie East" and the old theater located beneath the Target walkway was renamed "Eden Prairie West". The mall entrances at this time had large white pyramids. In June 1997, General Growth purchased the rest of the development that it did not already own from Homart. The mall underwent
183-412: A "special committee" to explore the sale of Kenmore. On September 24, 2018, the retailer's CEO warned that the company was "running out of time" to salvage its business. Sears Holdings filed for Chapter 11 bankruptcy on October 15, 2018, ahead of a $ 134 million debt payment due that day. On November 23, 2018, Sears Holdings released a list of 505 stores, including 266 Sears stores, that were for sale in
244-781: A coming of age, financially, of the consumer sector. The company traded under the ticker symbol S and was a component of the Dow Jones Industrial Average from 1924 to 1999. In 1906, Sears opened its catalog plant and the Sears Merchandise Building Tower in Chicago's West Side . The building was the anchor of what would become the massive 40-acre (16 ha) Sears, Roebuck and Company Complex of offices, laboratories, and mail-order operations at Homan Avenue and Arthington Street. The complex served as corporate headquarters until 1973 when
305-401: A farm household could desire. Sales continued to proliferate, and the prosperity of the company and their vision for more significant expansion led Sears and Rosenwald to take the company public in 1906, with a stock placement of $ 40 million ($ 1.4 billion today). They had to incorporate a new company to bring the operation public; Sears and Rosenwald established Sears, Roebuck and Company with
366-470: A new concept store called Sears Grand. Sears Grand stores carried everything that a regular Sears carries, and more. Sears Grand stores were about 175,000 to 225,000 square feet (16,300 to 20,900 m ). On November 17, 2004, Kmart Holdings Corporation announced it would acquire Sears, Roebuck, and Co. for $ 11 billion after Kmart completed its recovery from bankruptcy. As a part of the acquisition, Kmart Holding Corporation, along with Sears, Roebuck, and Co.,
427-548: A new mail-order firm, again selling watches and jewelry, with Roebuck as his partner, operating as the A. C. Roebuck watch company. On September 16, 1893, they renamed the company Sears, Roebuck, and Co. and began to diversify the product lines offered in their catalogs. Before the Sears catalog, farmers near small rural towns usually purchased supplies, often at high prices and on credit, from local general stores with narrow selections of goods. Prices were negotiated and relied on
488-466: A publicity role. Sears offered Roebuck's half of the company to Chicago businessman Aaron Nusbaum , who in turn brought in his brother-in-law Julius Rosenwald , to whom Sears owed money. In August 1895, they bought Roebuck's half of the company for $ 75,000 ($ 2.7 million today), and that month the company was reincorporated in Illinois with a capital stock of $ 150,000 ($ 5.5 million today). The transaction
549-498: A transformer fire started in the aforementioned JCPenney which would cause the store to close temporarily. However, in August 2024, Mall management stated that the store would no longer re-open and stay permanently closed, ending the anchor's 17-year run at the mall. Homart Development Company Homart Development Company , a Chicago -based subsidiary of Sears , was one of the largest builders of shopping centers and malls in
610-462: Is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald , with what began as a mail ordering catalog company migrating to opening retail locations in 1925, the first in Chicago . Through the 1980s, Sears was the largest retailer in the United States. In 2005, the company
671-547: The Commonwealth of Puerto Rico . In 1997, Sears sold 85% of its Mexico affiliate to Grupo Carso . Sears Holdings continued to produce specialty catalogs and reintroduced a smaller version of the Holiday Wish Book in 2007. In 2003, Sears sold its U.S. retail credit card operation to Citibank . The remaining card operations for Sears Canada were sold to JPMorgan Chase in August 2005. In 2003, Sears opened
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#1732780992468732-919: The Discover credit card in 1985. However, these actions have been said to have distracted management's attention from the core retail business and allowed competing retailers to gain significant ground, culminating with Walmart surpassing Sears as the largest retailer in the United States in 1990. In the 1990s, the company began divesting itself of many non-retail entities, which were detrimental to its bottom line. Sears spun off its financial services arm, which included brokerage business Dean Witter Reynolds and Discover Card. It sold its mall building subsidiary Homart to General Growth Properties in 1995. Sears later acquired hardware chain Orchard Supply Hardware in 1996 and started home improvement store The Great Indoors in 1997. The cost of distributing
793-689: The Sears Archer 600 typewriter as a rebranded Silverette model, manufactured by Silver Seiko Ltd. of Japan. The success of Sears outdoor products raised the attention of the Federal Government and the antitrust laws. Sears purchased David Bradley to manufacture farm and lawn equipment. Its success was broken up in 1962 as they sold more plows than John Deere. Sears sold half of the David Bradley factory in Bradley, Illinois to
854-495: The Sears Tower was completed and served as the base of the mail-order catalog business until 1995. By 1907, under Rosenwald's leadership as vice president and treasurer, annual sales of the company climbed to roughly $ 50 million ($ 1.6 billion today). Sears resigned from the presidency in 1908 due to declining health, with Rosenwald named president and chairman of the board and taking on full control. In 1910, Sears acquired
915-542: The United States from 1959 to 1995. As retail development in the United States shifted away from downtowns with the growth of suburbia after World War II, some major department stores such as Sears moved into the business of developing malls in which to place new anchor tenant locations. Homart Development Company was founded in 1959 for the purpose of building regional shopping malls for Sears . The "Homart" brand name had been used by Sears for many years before
976-533: The 1920s to the 1950s, Sears built many urban department stores in the U.S., Canada, and Mexico (apart from, but not far from, existing central business districts ), and they overshadowed the mail-order business. Following World War II, the company expanded into suburban markets and malls. In 1959, it had formed the Homart Development Company for developing malls. Many of the company's stores have undergone major renovations or replacements since
1037-460: The 1980s. Sears began to diversify in the 1930s, creating Allstate Insurance Company in 1931 and placing Allstate representatives in its stores in 1934 (Allstate was also used as a house brand on a range of motorized vehicles sold by Sears). Over the decades, it established major national brands, such as Kenmore , Craftsman , DieHard , Silvertone , Supertone , and Toughskins — and marketed widely under its private labels , e.g., marketing
1098-764: The David Bradley Plow company. This acquisition would lead to the manufacturing of riding mowers, chainsaws, tillers, etc., in the Bradley Illinois factory. The company was badly hurt during 1919–21 as a severe depression hit the nation's farms after farmers had over-expanded their holdings. To bail out the company, Rosenwald pledged $ 21 million ($ 358.7 million today) of his personal wealth in 1921. By 1922, Sears regained financial stability. Rosenwald decided to shift emphasis to urban America and brought in Robert E. Wood to take charge. Rosenwald oversaw
1159-714: The Newark Ohio Company that was shortly acquired by Roper Industries. Sears reached its pinnacle in the 1970s. In 1974, Sears completed the 110-story Sears Tower in Chicago, which became the world's tallest building , a title it took from the former Twin Towers in New York. Upon moving out of Chicago, Sears sold the Sears Tower in 1988. In the sale contract of the tower, Sears retained its naming rights to
1220-733: The Prairie Stone campus. The Sears catalog became known in the industry as "the Consumers' Bible". The company began selling to foreign customers after the American occupation of Greenland in World War II and the Philippines, among others, when locals ordered from catalogs left by soldiers. Novelists and story writers often portrayed the importance of the catalog in the emotional lives of rural folk. The catalog also entered
1281-440: The R.W. Sears Watch Company. That year, he met Alvah Curtis Roebuck , a watch repairman. In 1887, Sears and Roebuck relocated the business to Chicago, and the company published Richard Sears's first mail-order catalog, offering watches, diamonds, and jewelry. In 1889, Sears sold his business for $ 100,000 ($ 3 million in 2021 dollars) and relocated to Iowa, planning to be a rural banker. He returned to Chicago in 1892 and established
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#17327809924681342-584: The Sears Essentials format, only to change them later to Sears Grands. The combined company's profits peaked at $ 1.5 billion in 2006. By 2010, the company was no longer profitable; from 2011 to 2016, the company lost $ 10.4 billion. In 2014, its total debt ($ 4.2 billion at the end of January 2017) exceeded its market capitalization ($ 974.1 million as of March 21, 2017). Sears declined from more than 3,500 physical stores to 695 U.S. stores from 2010 to 2017. Sales at Sears stores dropped 10.3 percent in
1403-519: The bankruptcy process, while all others would hold liquidation sales. On January 16, 2019, Sears Holdings announced it would remain open after Lampert won a bankruptcy auction for the company with an offer to keep about 400 stores open. On February 7, 2019, a bankruptcy judge approved a $ 5.2 billion plan by Sears's chairman and biggest shareholder to keep the business going. The approval meant roughly 425 stores, including 223 Sears stores, and 45,000 jobs would be preserved. In April 2019, Sears announced
1464-400: The brand's huge popularity helped attract customers. Sears retail stores were pioneering and broke the conventions of the time in three ways: Many stores at this time were designed by architect George C. Nimmons and his firms. The architecture was driven by merchandising needs rather than the desired outer appearance. This made the stores excellent examples of the modern architecture of
1525-483: The building until 2003, but the Sears Tower retained the name until early 2009, when London-based insurer Willis Group Holdings, Ltd. was given the building's naming rights to encourage them to occupy the building. Sears moved to the new Prairie Stone Business Park in Hoffman Estates, Illinois, between 1993 and 1995. The Sears Centre is a 10,001-seat multi-purpose arena located in Hoffman Estates adjacent to
1586-666: The company announced that Transform Holdco would acquire Sears Hometown & Outlet Stores . As per deal, it might need to divest its Sears Outlet division to gain approval. On August 6, 2019, it was announced that 26 stores would close that October, including 21 Sears stores, among them the last Sears stores in Alabama and West Virginia , at Riverchase Galleria in Hoover and at Huntington Mall in Barboursville , respectively. The announcement also included plans to "accelerate
1647-417: The company was looking to focus on becoming a more tech-driven retailer. Sears's CEO and top shareholder said the sell-off of key assets in the last year had given the retailer the money it needs to speed up its transformation. Sears Holdings had lost a total of US$ 7 billion in the four years to 2015. In part, the retailer was trying to curb losses by using a loyalty program called Shop Your Way. Sears believed
1708-507: The current Ford line ]). By 1895, the company was producing a 532-page catalog. Sales were over $ 400,000 ($ 12 million in 2021 dollars) in 1893 and over $ 750,000 ($ 20 million in 2021 dollars) two years later. By 1896, dolls, stoves, and groceries were added to the catalog. Despite the strong and growing sales, the national Panic of 1893 led to a full-scale economic depression , causing a cash squeeze and large quantities of unsold merchandise by 1895. Roebuck decided to quit, returning later in
1769-422: The department stores Powers Dry Goods and Sears . Powers' store became Donaldson's in 1985, then Carson Pirie Scott in 1987. On October 13, 1984, a Target store opened and was connected by a walkway that was adjacent to the mall. The mall underwent a major renovation and the color scheme was changed to a pink and aqua pastel theme. The white pebble pillars were covered with pastel aqua round casings. The ramp
1830-520: The design and construction of the firm's first department store, built on land within the Sears, Roebuck, and Company Complex. The store opened in 1925. In 1924, Rosenwald resigned the presidency but remained as chair until he died in 1932; his goal was to devote more time to philanthropy. The first store opened on February 2, 1925, as an experiment in the North Lawndale Sears, Roebuck and Company Complex . Despite its remote location on
1891-480: The development company was founded. Seminary South Shopping Center in Fort Worth was their first project. By 1971, Homart was operating nine regional shopping locations, and had numerous others in development. It became the nation's second largest mall developer, and by 1992 it was reported that Homart had developed 80 malls with over 75,000,000 square feet (7,000,000 m ) of retail space. By 1994, it
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1952-733: The expansion of our smaller store formats which includes opening additional Home & Life stores and adding several hundred Sears Hometown stores after the Sears Hometown and Outlet transaction closes." On August 31, 2019, management announced that Transform would close an additional 92 stores, including 15 Sears stores, by the end of 2019. Near the end of 2019, Sears sold the brand name DieHard to Advance Auto Parts for $ 200 million. A total of 100 more stores closed by January 2020. 51 Sears stores were closed in February 2020. More stores continued to close throughout 2020 and 2021, including
2013-588: The family fortune in a speculative stock deal. Sears moved across the state to work as a railroad station agent in North Redwood , then Minneapolis . While he was in North Redwood, a jeweler refused delivery on a shipment of watches. Sears purchased them and sold them at a low price to the station agents, making a profit. He started a mail-order watch business in Minneapolis in 1886, calling it
2074-690: The final Sears in Maine at The Maine Mall. In September 2021, the company's website listed 35 Sears stores. That month, Sears announced that it would close more stores, including the last Sears store in New York City. The New York City Sears closed by November 24, 2021, with the potential to be redeveloped. Transformco announced in December 2021 its plans to sell the 2.3 million-square-foot Sears headquarters in Hoffman Estates, which includes 100 acres of undeveloped land. On January 19, 2022, Sears shut
2135-530: The final quarter of 2016 when compared to the same period in 2015. Sears spent much of 2014 and 2015 selling off portions of its balance sheet; namely, Lands' End and its stake in Sears Canada , one of the biggest e-commerce players in Canada, with Can$ 505 million in sales in 2015—more than Walmart and others who had begun pushing aggressively into online sales, such as Canadian Tire . Sears stated that
2196-1050: The first of its Christmas catalogs known as the " Sears Wishbook ", a catalog featuring toys and gifts, separate from the annual Christmas Catalog. From 1908 to 1940, it included ready-to-assemble Sears Catalog Home kit houses. Sears opened a small store in Downtown Havana , Cuba in 1942. Sears opened its first store in Mexico City in 1947; the Mexican stores would later spin off into Sears Mexico , now owned by billionaire Carlos Slim 's Grupo Sanborns , which in 2020 operated more than 75 stores across Mexico. Sears had sales of US$ 78 million in other territories in 1953. Over time, Sears expanded into all Central American countries, Cuba, Puerto Rico, Colombia, Venezuela, Ecuador, Peru, Brazil, and Spain. Currently Sears operates in Mexico, Guatemala, El Salvador, and Puerto Rico. From
2257-439: The language, particularly of rural dwellers, as a euphemism for toilet paper, as its pages could be torn out and used as such. In addition, for many rural African-Americans, especially in areas dominated by Jim Crow racial segregation , the Sears catalog was a vital retail alternative to local white-population-dominated stores, bypassing the stores' frequent intention to deny them fair access to their merchandise. However, as
2318-419: The legal name Sears, Roebuck and Co. , in the state of New York, which effectively replaced the original company. The current company inherits the history of the old company, celebrating the original 1892 incorporation, rather than the 1906 revision, as the start of the company. Sears's successful 1906 initial public offering (IPO) marks the first major retail IPO in American financial history and represented
2379-462: The liquidation of the 115 largely owner-operated Hometown stores. As of November 2024, there are nine Sears stores remaining, with eight in the mainland U.S. and one location in the U.S. territory of Puerto Rico. Richard Warren Sears was born in 1863 in Stewartville, Minnesota , to a wealthy family which moved to nearby Spring Valley . In 1879, his father died shortly after losing
2440-539: The mall to Cypress Equities for $ 99 million. Sears closed in 2016. 75% of the original building was demolished and a 248,000 sq/ft Scheels All Sports opened in July 2020. On June 4, 2020, it was announced that JCPenney would be closing as part of a plan to close 154 stores nationwide. However that store was removed from the closing list and will remain open for now. In June of 2020 ownership was transferred to Eden Prairie Center, LLC- c/o Metlife Investment Mgmt. In April 2024,
2501-572: The membership scheme would enhance repeat business and customer loyalty in the long term. CEO Eddie Lampert also concluded an arrangement that sold the Craftsman brand to Stanley Black & Decker Inc. for approximately US$ 900 million. In October 2017, Sears and appliance manufacturer Whirlpool Corporation ended their 101-year-old association, reportedly due to pricing issues, although Whirlpool continued supplying Sears with Kenmore -branded appliances. In May 2018, Sears announced it had formed
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2562-410: The most major renovation in 2001. A new wing was added to the mall and the floor plan changed considerably to make the mall more modern and upscale. The food court was moved out of the recessed basement, which has been sealed in and now serves as the mall offices and other offices, changing the mall's store layout from a three-story mall to two stories. A large AMC movie theater was added to the mall and
2623-404: The nation urbanized, Sears's catalog business faced competition from city department stores. Rural America's population was slow-growing and possessed far less spending power than urban America. In the 1980s, the company began to diversify into non-retail entities such as buying Dean Witter and Coldwell Banker in 1981. In 1984, it launched Prodigy as a joint venture with IBM , and introduced
2684-515: The once highly influential general merchandise catalog became prohibitive; sales and profits had declined. The company discontinued the catalog in 1993. It dismissed 50,000 workers who had filled the orders. In 1992, the company posted a $ 3.9 billion loss, the largest ever from an American retailer. In 1992, California successfully sued the company for falsely finding things wrong with automobiles in for repair for other reasons. In 1997, criminal charges were made. In 1998, Sears announced it had sold
2745-519: The opening of three new stores with a limited set of merchandise under the name Sears Home & Life. Also that month, Sears closed its store at Windward Mall in Kaneohe, Hawaii , and its store at Oakbrook Center in Oak Brook, Illinois (which was razed and already rebuilt as a 1-story store), making it the first post-bankruptcy closure for the brand since being bought by ESL. On June 3, 2019,
2806-513: The outskirts of Chicago, its success led to dozens of further openings across the country, many in conjunction with the company's mail-order offices, typically in lower-middle-class and working-class neighborhoods, far from the main downtown shopping district. This was considered highly unconventional at a time when shopping was concentrated in city centers, but through World War II , there was an extensive streetcar network in Chicago and other U.S. cities. However, rapidly increasing car ownership and
2867-600: The pastel theme disappeared in favor of wood and stonework. After the Mervyns store closed in August 2004, the owner of the mall acquired the store. Department Store Discounters had a brief stay in the Mervyn's location in 2005. JCPenney opened a new store in the former Mervyn's location in March 2007. The current department stores in the mall are JCPenney, Kohl's, Target, and Von Maur. In October 2013, General Growth Properties sold
2928-625: The remaining 15 Sears Auto Centers in the United States with a message on the Sears Auto Center website stating: "Auto Centers have closed for business. We appreciate your patronage over the years. If you have any questions concerning warranty claims, please visit us at Sears Help." In May 2022, it was announced that roughly 100 more Sears Hometown stores, including the last four in Michigan, would close permanently. On December 13, 2022, Sears Hometown filed for Chapter 11 bankruptcy. It
2989-648: The remnants of Western Auto (which it had acquired in 1998) to Roanoke -based Advance Auto Parts . The business deal was not what experts in the after-market automotive industry expected: Sears, Roebuck became "one of the largest shareholders" after obtaining a 40% stake in Advance Auto Parts and merging their two store networks, which included Western Auto's wholesale and retail operations. The existing store network of Advance Auto Parts, comprising 915 stores in 17 U.S. states, merged with 590 U.S.-based Parts America Stores in addition to 40 Western Auto stores in
3050-422: The storekeeper's estimate of a customer's creditworthiness. Sears built an opposite business model by offering in their catalogs a larger selection of products at published prices. By 1894, the Sears catalog had grown to 322 pages, including many new items, such as sewing machines, bicycles, sporting goods and automobiles (later produced, from 1905 to 1915, by Lincoln Motor Car Works of Chicago [no relation to
3111-493: The time—styles made famous by Bertram Goodhue and Eliel Saarinen . Its stores were oriented to motorists. Set apart from existing business districts amid residential areas occupied by their target audience, they had ample, free, off-street parking and communicated a clear corporate identity. In the 1930s, the company designed fully air-conditioned, "windowless" stores, such as Sears-Pico in 1939 in Los Angeles , which
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#17327809924683172-400: The two United Artists theatres have closed. The Target expanded into a Target Greatland and connected to the mall, replacing the old walkway. A Von Maur department store was added to the mall in August 2001, the mall entrance utilizing space that had been smaller mall stores near the old food court area. The mall has a simplified stylized "EP" logo to replace the older handwritten style logo, and
3233-437: Was also operating 36 of those developed malls. In November 1994, Sears announced that it planned to sell off Homart as part of a restructuring. General Growth Properties completed an acquisition of Homart in late 1995 in a transaction valued at $ 1.85 billion, then one of the biggest real estate deals in history. Homart also owned a number of office buildings which were also sold in 1995. Sears executive Emory Williams
3294-482: Was based in the Sears Tower in Chicago from 1973 until 1995, and was later headquartered in Hoffman Estates, Illinois from 1993 until 2021, the year when it announced that it would be selling its Hoffman Estates headquarters complex. On December 12, 2022, Sears Authorized Hometown Stores, LLC, and affiliated debtor Sears Hometown, Inc., filed for Chapter 11 bankruptcy protection, and on December 26 announced
3355-518: Was bought by the management of the American big box discount chain Kmart , which upon completion of the merger, formed Sears Holdings . In 2018, it was the 31st-largest. After several years of declining sales, Sears's parent company filed for Chapter 11 bankruptcy on October 15, 2018. It announced on January 16, 2019, that it had won its bankruptcy auction, and that a reduced number of 425 stores would remain open, including 223 Sears stores. Sears
3416-518: Was handled by Albert Henry Loeb of Chicago law firm Loeb & Adler (now Arnstein & Lehr ); copies of the transaction are still displayed on the firm's walls. Sears and Rosenwald got along well with each other, but not with Nusbaum; they bought his interest in the firm for $ 1.3 million in 1903 ($ 44.1 million today). Rosenwald brought to the mail-order firm a rational management philosophy and diversified product lines: dry goods, consumer durables, drugs, hardware, furniture, and nearly anything else
3477-486: Was named president and COO, and he also became chairman in 1987. Notable shopping centers developed by Homart include: The Nanuet Mall in Rockland County New York opened in 1969- 101 stores anchored by Sears and Bambergers, (first enclosed mall in the county and about 25 miles from Manhattan). Sears Sears, Roebuck and Co. , commonly known as Sears ( / s ɪər z / SEERZ ),
3538-486: Was removed and replaced with a free standing elevator. The glass and wood railings were replaced with aqua painted metal. The food court was decorated with large neon palm trees and given a fountain that changed colors. In preparation of a $ 60 million renovation plan in 1996, the mall worked hard to lure premiere Minneapolis retailer Dayton's ; and it appeared to be a plan Dayton's was considering, though they eventually decided against it. The Carson Pirie Scott store became
3599-755: Was the first president of Homart. Warren G. Skoning was appointed president in 1967, and elected as chairman in 1974. Also serving as vice-president of real estate development for Sears, Skoning was involved in the development of the Sears Tower . W.E. Lewis was named president in 1974 when Skoning became chair. Edwin Homer, former president of Chrysler Realty, joined as president in 1980, later became chair and CEO, and served until his retirement in 1984. Homer diversified Homart's portfolio by developing office properties and community centers, in addition to malls, and also sold some of Homart's malls to generate additional profit for Sears. In 1985, Michael J. Gregoire
3660-428: Was the first to have an open plan selling floor (instead of breaking up the floor into discrete sections). Sears was also a pioneer in creating department stores that catered to men and women. The stores included hardware and building materials. It de-emphasized the latest clothing fashions in favor of practical and durable clothing and allowed customers to select goods without the aid of a clerk. In 1933, Sears issued
3721-579: Was transformed into the new Sears Holdings Corporation . The new company started trading on the NASDAQ stock exchange as SHLD; Sears sold its single-letter ticker symbol 'S' in the New York Stock Exchange that it had held since 1910 to Sprint Corporation . The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands. In 2005, the company began renovating some Kmart stores and converting them to
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