Sears to expand with Kmart merger.

Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2004 The Miami Herald

Byline: Sharon Harvey Rosenberg

Nov. 18--Sears Roebuck & Co. -- one of the oldest names in the retail industry -- is merging with Kmart in an $11 billion deal that will position Sears as a one-stop shop carrying everything from soup to nuts to wrenches.

The changes are designed to put Sears on the front line in a war against the dominant chains in discount retailing, Wal-Mart and Target, while preserving Kmart's legacy.

With a new product line that will include food, beauty products, clothing and Kmart's Martha Stewart Everyday products, Sears will move forward with an updated store format in Florida and nationwide.

"The move is a brilliant move for both Sears and Kmart," said Herbert Leeds of Leeds Business Counseling, a Miami-based retail industry consultant. "They will be able to form a very strong competitor against Wal-Mart and Target."...

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