Wednesday, January 8, 2014

BREAKING: KMart in Newport to Close

KMart in Newport will close March 30, according to sources.

Sears Holding Corp, who owns Kmart, announced in  late 2011 that they would be eliminating between 100-120 stores in 2012 and 2013. The Newport location was not one that was on the chopping block last year, which was a surprise.


My original prediction was about a year and a half off. 

We are working on getting more information from Kmart's corporate office, but typically when they announce the closure of stores, they start a liquidation sale almost right away.

A manager who wished to remain nameless said that the sale should start on Monday and if the shelves are empty before March 30, they'll obviously close before then.

So why now?

While Ben addressed the rumor of the Wal-Mart buying the Newport Shopping Center, this new development certainly does nothing to stop the whispers that the Arkansas retail giant could be making its way to Newport.

10 comments:

  1. This does not surprise me at all, 1. Kmart as a whole isnt doing good 2. New retail at the pavilion doesnt help them any 3. The news of walmart possibly coming to town doesnt help them either 4.that store just like other kmarts is always empty and probably isnt doing well. Finally I want to say that with the closing of this store it continues to show the direction they are going and if it continues kmart will (with only a few stores left in the area) leave the tri state and the world as a whole. Personally I dont shop kmart but if they changed things and renovated id give them a try and consider shopping there. Out with old in with new, any ideas what could go there or what you want to see there?

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  2. Dear lord.. i havent shopped at kmart in years, just due to poor quality from previous years of shopping.. however walmart is what kmart use to be.. poor quality and only one check out line open... i still shop at kmart on the off chance but i would like to see something a little nicer to attract a better populous

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  3. A Walmart Supercenter will not fit in the 9.7 acres of the Kmart Plaza.A Walmart Supercenter generally built on a 20-30 acre site.

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  4. Don't believe the Walmart rumors. A Walmart Supercenter takes up 20-30 acres.

    The Kmart site is only 9.7 acres.

    Could be wrong, but the store itself will take up about 4.5 acres, then you need to have the parking.

    Sorry, don't think it will fit.

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  5. I don't necessarily think the WalMart would go on this spot. The most likely parcel of land is the Newport Shopping Center.

    I'm simply saying that with this closure of Kmart, the writing on the wall for an area Walmart becomes a greater possibility.

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  6. Why? A greater possibility?

    State your reasons, or is it something like the Easter Bunny -- you just have to believe?

    I thought the posting about the Newport Shopping Center really showed the challenges of putting a Walmart on that site.

    PS - Kmart is a poorly run retailer, I don't think Walmart believes Kmart is a significant competitor.

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  7. We've gone over the reasons why it makes sense for WalMart wanting to move into Newport.

    There's a search box at the top of the site. Feel free to use it.

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  8. Nice comment Mark lol. And Walmart Wise the article earlier in the blog from this post mentioned the possibility of Walmart taking over the Newport Shopping Center site which Im pretty sure fits the bill for enough room for a walmart and maybe other retail to move to. I could be wrong.

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  9. i like to see a WalMart in there it hard for me to go to the one out there if one got to go there i lov it we need one here i think a Walmart should go there

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  10. Walmart could very easily go on the Kmart parcel. Walmart offers more than the giant supercenters we have become accustomed to. They actually have 4 different store styles and 2 of them would easily fit on this parcel. If the Kmart spot is 9.7 acres, then it is almost 425,000 square feet. This could even accomodate a supercenter, although it would have less parking (possibly) than what we are accustomed to. If you would like, check out this link: http://www.walmartcommunity.com/recent-news/get-to-know-your-walmart/

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