HOFFMAN ESTATES, Ill. — Kmart announced that the company’s Strategic Merchandising Group is actively sourcing extreme-value deals by purchasing the inventory of liquidated companies and other opportunistic situations.
“The path to making Kmart great again starts with sourcing truly brag-worthy deals,” Alasdair James, the company’s president and chief member officer, said in a statement last month. “Just as when we brought back Bluelight Specials last year, we continue to find innovative ways to provide our Shop Your Way members with an extreme value proposition that can only be found at Kmart.”
James was hired in August 2014 to lift the retailer out of a sales slump. Same-store sales at Kmart, a unit of Sears Holdings Corp., declined in each quarter of 2015. But the fourth quarter decline of 7.2% marked an improvement over the year’s first three quarters, the company said on February 25.
Kmart’s fourth quarter comparable-store sales were down in the categories of consumer electronics, apparel, grocery and household goods. The retailer posted positive comps in seasonal merchandise, mattresses and home appliance.
Kmart said that its purchases of closeouts from liquidating companies will “provide unique opportunities to obtain outstanding products and offer unbeatable value while providing higher recoveries to sellers in need of inventory monetization. For example, Kmart will soon offer truly brag-worthy deals in-store, at Kmart.com and via the Kmart app on outdoor cookers, smokers, outdoor lighting and handheld lighting manufactured by Brinkmann Corp.”
Brinkmann was a leading manufacturer of premier products under the Brinkmann, Malibu Lighting and Q-Beam brands.