Kmart and Sears merge
Jet, Dec 6, 2004
[ILLUSTRATION OMITTED]
Caption: Kmart and Sears merge: Aylwin Lewis (c), president of Kmart, joins hands in celebration with Edward Lampert (I), chairman of Kmart, and Alan Lacy, CEO of Sears (r), during the recent announcement of an $11 billion merger between Kmart and Sears in New York. The two retailers announced that they will combine the companies into a major new retail company named Sears Holdings Corporation, making it the nation's third-largest retailer behind Wal-Mart and Home Depot. Under the new merger Lewis will hold the title of president of Sears Holdings and CEO of Kmart and Sears Retail.
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