Kmart’s store on West 34th Street in Midtown Manhattan is going out of business
The 34th Street Kmart is part of the most recent round of store closings from parent company Transformco, which is unaffectionately known as New Sears within the trade—even though it is generally behaving very much like the Old Sears. No wonder, both were/are controlled by Eddie Lampert, the investor once seen as the savior of two great retailing brands, Kmart and Sears, but is now generally regarded as their undertaker.
Exactly when the 34th Street store shuts down completely is unknown, but it certainly is an inglorious end to what was once such an important—dare I say revolutionary—store. Opened in 1995, Kmart then still had 2,400 stores and, while no longer the largest retailer in the country , it was still a retailing powerhouse.
The four-level store was carved out of street level retail and below-ground space in the office tower and featured direct access from adjacent Penn Station and the hundreds of thousands of commuters and travelers who used the transportation hub. As prime a location as it was, it was also, to say the least, an awkward space, with a disorienting layout, dead-end aisles and low ceilings in its three basement levels.
“Today we are celebrating a true ‘Miracle on 34th Street,’” it was reported then-chairman Joe Antonini said at the time. “And this miracle is called Manhattan’s first Kmart.” Antonini had led Kmart to perhaps its most glorious era, with what was considered the channel’s most fashion-forward apparel assortment as well as the Martha Stewart private label home program, which did nearly $1 billion in sales at its peak, a mark not matched by any mass merchant until only recently.
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