This is an authentic stock certificate from the Kmart Corporation. Fantastic vignette of three executives in front of an office building. Issued in 2003 before the cancellation of outstanding shares. (These are KM shares but Kmart later traded under KMRT. before merging with Sears (S). ) The combined company, called Sears Holdings Corporation, trades on the Nasdaq National Market under the stock symbol SHLD.
Kmart Corporation is a discount retailer and a general merchandise retailer. The Company operates in the general merchandise retailing industry through 1,829 Kmart discount stores with locations in all 50 states, Puerto Rico, the United States Virgin Islands and Guam, as of January 29, 2003, and through its e-commerce shopping site. On January 22, 2002, Kmart and 37 of its United States subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the federal bankruptcy laws, and, subsequently, obtained an exit financing facility. On January 28, 2003, the court approved the closure of 326 stores located in 40 states, which number was later reduced to 316 stores, or approximately 17%, of the Company's 1,829 stores. In May 2003, the Company emerged from Chapter 11 protection.
A brief history: 1899: Sebastian Kresge founds S.S. Kresge Co. in the Detroit area, later to become Kmart. 1918 - S.S. Kresge Co. becomes publicly traded on the New York Stock Exchange. 1962: Kresge opens its first discount store as Kmart in Garden City. 1966 - Sales top $1 billion. S.S. Kresge runs 915 stores, including 162 Kmarts. 1972 - Company moves headquarters to Troy, Mich. 1977 - S.S. Kresge Co. changes its name to Kmart Corp 1984 - Kmart purchases Walden Book Co. and Home Centers of America. 1984-92: Kmart buys several businesses, including Builders Square in 1984, the Sports Authority in 1990, a 90-percent stake in OfficeMax in 1991 and Borders bookstores in 1992. 1991: Kmart opens the first Super Kmart Center. 1994-95: Kmart has a brush with bankruptcy amid falling earnings. It sells or spins off OfficeMax, the Sports Authority, Pace Membership Warehouse and Borders. More than 200 stores close and Chief Executive Joseph Antonini, architect of the diversification strategy, is replaced by Floyd Hall. 1997: Kmart launches the Martha Stewart bed and bath product line. 1999: Kmart signs pacts to distribute groceries in all stores; 2000: Charles Conaway is named chairman and chief executive officer in May. He announces a restructuring plan to make stores, inventories and information systems more productive. Some 72 stores close, affecting about 5,000 employees. August 2001: Kmart cuts prices to compete with Wal-Mart. Posts a fiscal second-quarter loss of $22 million and cites pricing pressures. Nov. 8, 2001: October's same-store sales fall 4.4 percent. Nov. 27, 2001: Kmart reports a loss of $224 million for its fiscal third quarter that ended Oct. 31. Dec. 14, 2001: Moody's cuts Kmart debt of $4.7 billion in bonds to junk status. Jan. 2, 2002: Prudential Securities analyst Wayne Hood recommends selling Kmart stock. Jan. 10: Kmart reports December same-store sales fell 1 percent, warns that earnings will be below expectations and talks with lenders on supplemental financing. Jan. 11: Moody's cuts Kmart's debt rating again. Jan. 14: The board of directors begins meeting to discuss Kmart's financial options, including bankruptcy. Moody's and S&P both cut Kmart's debt ratings again. Jan. 16: Moody's and S&P again cut Kmart's debt ratings. Kmart bonds slide to levels that signal a bankruptcy filing could be imminent. Jan. 17: Kmart announces it has ousted its president, Mark Schwartz, and named director James Adamson as chairman. Conaway remains chief executive. Jan. 21: Fleming Companies Inc. of Dallas, the exclusive food supplier for Kmart's 2,114 stores, suspends shipments because it says the Troy retailer owes it $78 million. Jan. 22: Kmart files for Chapter 11 bankruptcy protection in Chicago. The retailer also secures $2 billion in financing with a group of banks. Ronald Hutchinson is named chief restructuring officer. Stock closes below $1. Jan. 24: Fleming and PepsiCo resume shipping to Kmart after a judge allows the retailer to pay its critical vendors. Jan. 25: Kmart and the Securities and Exchange Commission launch separate investigations into an anonymous letter alleging accounting problems. Feb. 13: Kmart has its first court hearing since it filed for Chapter 11 status. Feb. 28: Chairman Jim Adamson is a no-show at a Kmart-sponsored media breakfast. March 6: Kmart receives final court approval for its $2-billion debtor-in-possession financing. It is also allowed to give 9,950 employees, including certain vice presidents, store managers and pharmacists, bonuses for staying with the company during reorganization. March 8: Kmart announces it will close 284 stores in 40 states and Puerto Rico, a move that will affect 22,000 employees.
March 2005 Shareholders signed off on Kmart Holding's (KMRT) $12.3 billion acquisition of Sears Roebuck (S), clearing the way for the two struggling rivals to combine into the nation's third-biggest retailer Final approval came in back-to-back meetings at Sears' headquarters.
The combined company will be called Sears Holdings Corporation. The companies said Sears Holdings stock is expected to start trading on the Nasdaq National Market under the stock symbol SHLD.
Very rare modern issue!!! Great retail piece for the collector or person with an interest in the company.This is your chance to get one before my very small supply runs out! This certificate would also make an ideal novelty gift. Don't miss your chance on this piece!
Buyer to prepay for item and $5.95 shipping via USPS Priority Mail. PayPal honored for all sales!!!
This is a sample photo only. The certificate for sale has the same color, condition, and vignette. Differences will be in date, marks, original owner name, serial number, and corporate officers unless otherwise noted. The quality shipped will be the same or better than pictured. Refund given if buyer is not satisfied. Note that we cannot search for a specific date or name due to our large inventory. Modern certificate pictures often have owner names obscured for privacy.Modern certificates may still be trading in the stock market but no ownership is transferred in this sale - the certificate is sold as a collectible novelty only. It is likely that the scanned certificate has already been sold but you may ask us to check before offerding.
Shipping costs are less than actual cost to us, the seller. We ship by USPS Priority Mail for fast delivery times. We use a custom-sized photo mailer with a custom, non-acid slip sleeve for protected shipping. We allow for combined shipping to save the buyer money for multiple sale wins. Please wait until all sales are complete before sending payment. I will not know if you are continuing to offer so I ship when paid. (If you pay early I will ship and cannot combine shipping on later sales.) Please include item numbers with payment for quick, positive response and accurate shipping. Please send only one payment to avoid confusion.
Shipping to Canada or Europe is the same as US shipping.
Shipping is not negotiable. Do not ask to ship by other methods. We do not deliver; we do not allow for pick-up; we do not ship overnight. We only ship Priority Mail in the US due to better handling and delivery times. Again, our shipping fees are less than our actual costs (We can forward you the breakdown of costs in a templated response e-mail.) Read the sale for the shipping fees before offerding.
Satisfaction is guaranteed for any reason within 30 days. Authenticity is guaranteed for life. Refunds will be sent upon return of any unsatisfactory sale item. If you do not return the item, I assume that you decided to keep it. Please contact us directly for questions not explained here.
All certificates are only sold as collectibles. No investment value is implied, transferred, or considered. No transfer of securities is performed. Certificates are cancelled or obsolete. (Now really, would I sell a $10,000 investment instrument for $10?) We follow all rules on selling stock and bond certificates. We also comply with SEC regulations governing certificate sales and licensing requirements (we are not authorized to sell investments or securities under these rules.)
Do not ask us to sell this at a reduced cost -- use the offerding process. The minimum price is stated in the sale; the shipping fee is also in the sale. We believe that we offer very reasonable prices based on both cost and demand. Please read the shipping costs before offerding.
Are these real? - YES! We only sell authentic stocks and bonds that have been used in actual commerce or from company archives. They have been cancelled and no longer have investment value but are still the real deal. We do not sell copies. Active companies (still trading) are also only sold as collectibles. These have more recent dates due to the methods by which they were obtained.
Where's the value in these? - Since these pieces no longer have investment value, aren't they worthless? Literally, they are only worth the paper that they are printed on. The same can be said for baseball cards and stamps but it is really the collectible value that makes these worthless securities desirable.These are sold as collectibles or novelties only.