Business & Finance

Manahawkin Kmart to Close in September

f895fba1896f34879a7c_Kmart.jpg
f895fba1896f34879a7c_Kmart.jpg

STAFFORD -The Manahawkin Kmart store is closing effective early September. This Kmart store, once located on East Bay Avenue in downtown Manahawkin was one of the highest performing Kmart stores in the nation in the 1970's and early 1980's.  The store was previously located on the current site of the Value City Furniture store. 

Many who lived in the area in those days remember that Kmart was "the place" to shop.  That has surely changed. The Manahawkin Kmart was once the only big store in town but the competition over the years had a large part to do with the under performance of the store.  The corporate's nationwide performance did not help, nor has the surge in online shopping in recent years.   

Business Insider reported that at its peak in 2000, Kmart raked in $37 billion in sales and had 2,156 stores. Since then, Kmart's sales have dropped 72% to $10 billion in 2016.

Sign Up for E-News

Kmart is owned by Sears Holdings Inc. and the company is closing many more stores around the nation.   

There will be some bargains in the weeks ahead as the Manahawkin store begins liquidation on Wednesday, June 13.    

 

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Stafford/LBI

NEW JERSEY FISH AND WILDLIFE ANNOUNCES 3RD ANNUAL STATEWIDE YOUTH FISHING CHALLENGE AND FREE FISHING DAY ON SATURDAY, JUNE 9

June 6, 2018

TRENTON - Recreational anglers and those new to the pastime can try their hand at freshwater fishing during a statewide challenge and Free Fishing Day, both on Saturday, June 9, the Department of Environmental Protection announced today.

The DEP's Division of Fish and Wildlife's Hooked on Fishing - Not on Drugs Program is hosting the Youth Fishing Challenge statewide to introduce ...