Since 1993, the retailer has enjoyed a commanding and successful presence in the US territory. Kmart has remained a powerful commercial force on the USVI but the shelves are thinning at its four locations and rumors are flying that its tenure may be ending.

Here are some facts about Kmart in the U.S. Virgin Islands:
The first Kmart in the U.S. Virgin Islands opened in Tutu Park Mall in St. Thomas in 1993.
As of September 2024, there are three Kmart locations in the U.S. Virgin Islands.
Kmart was once the third largest discount store in the world, behind Walmart and Target.
Kmart's name was originally S.S. Kresge Corporation, but it was changed to Kmart Corporation in 1977.
Kmart's headquarters are in Hoffman Estates, Illinois.
Kmart is known for its "Blue Light Specials".
Kmart has been featured in many movies, including Troop Beverly Hills, Six Days Seven Nights, Rain Man, Beetlejuice, Madea Goes to Jail, and Dawn of the Dead.

Causes
Kmart filed for Chapter 11 bankruptcy in the Northern District of Illinois on January 22, 2002. The company cited a number of reasons for the filing, including:
Intense competition from other discount retailers, especially Walmart and Target
Failed sales and marketing initiatives
The economic recession
Capital market volatility
The company's outdated stores
Kmart's high dividend, which reduced money available for store improvements
Kmart's failure to invest in computer technology to manage its supply chain
Reorganization
Kmart's reorganization focused on closing unprofitable stores, reducing corporate overhead, and improving profitability. The company emerged from bankruptcy with a stronger balance sheet, less debt, and lower operating costs.
Aftermath
Kmart acquired Sears, Roebuck and Company in 2005 for about $12 billion, forming the new company Sears Holdings Corporation. However, sales at Kmart and Sears stores continued to decline. In 2018, Sears Holdings filed for Chapter 11 bankruptcy protection.

Kmart (the "Debtor") filed for Chapter 11 bankruptcy in the Northern District of Illinois on January 22, 2002. The Debtor listed the primary causes of its filing as intense competition among discount retailers, failed sales and marketing initiatives, economic recession and capital market volatility.

In 2024, Kmart closed its last major store in the continental United States, and the only remaining Kmart in the region is a small store in suburban Miami:
Bridgehampton, New York
The last major Kmart store in the continental United States closed on October 20, 2024. The store opened in 1996 and was a community shopping destination.
Miami, Florida
A small Kmart store in a suburban shopping center remains open. The store is more like a convenience store than a regular Kmart.
U.S. territories
Kmart still operates a few stores in the U.S. territories of Guam and the U.S. Virgin Islands. These markets are too remote and small for competitors like Amazon or Walmart.
Kmart's decline has been attributed to:
Competition from larger retailers
Poor management
Failed acquisitions by private equity firms and hedge funds
Changing shopping habits

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