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Kmart is going to buy up Sears, Roebuck & Co. for $11 billion, creating the third largest retail chain after Wal-Mart and Home Depot. The merger shoves Targét into fourth place.
Both Kmart and Sears have been moneylosers for some time, mostly as a result of humungoud Wal-Mart and its abaility to undercut other retailers by getting goods cheaper based on its sheer size.
Wal-Mart, when reached for comment, merely belched and laughed and rolled over, crushing several thousand locally-owned businesses, Safeway, Kroger and narrowly missing Costco.
Posted on November 17, 2004 at 09:35AM • 0 Comments • Permalink • Read more in Fashion Victim
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