Kmart (sometimes stylized as
K mart or
kmart) is an American chain of
discount department stores headquartered in
Hoffman Estates, Illinois,
United States. The chain purchased
Sears for $11 billion in 2005, forming a new corporation under the name
Sears Holdings Corporation. The company was founded in 1962 and is the third largest
discount store chain in the world, behind
Walmart and
Target, with stores in the United States,
Puerto Rico, the
U.S. Virgin Islands, and
Guam (which houses the world's largest Kmart). It also used to operate stores in
Canada,
Mexico, and
Eastern Europe. , the company operated a total of 978 Kmart stores. In 2013 it had operated 1,221 in 49 states, Guam, Puerto Rico, and the U.S. Virgin Islands, including 1,196 discount stores, averaging , and 25 Super Centers, averaging .