PARSIPPANY-TROY HILLS — After announcing the closing of over 200 Sears and Kmart locations earlier this year, Sears Holdings has plans to close 28 more Kmart stores by the end of 2017 and Kmart, 808 Route 46 is on the list.
The news came after a disappointing earnings report that stated the company lost $251 million in their second quarter — a decline that is likely the result of growing competition from online shopping stops like Amazon. The corporation is hoping to cut $1 billion in cost this year, primarily through selling real estate.
In 2014 the Kmart in Randolph on Route 10 closed.
The Kmart of Parsippany opened in 1998 and was a flagship Big Kmart store for the company. It was one of the company’s first Big Kmart stores, and the store was featured on the commercial which launched the Big Kmart concept nationwide.
In the commercial, a blue tarp is being removed from the sign as the Big Kmart jingle is played “There’s a new old friend in the same old place, with a brand new name and a brand new face”. A mock parade was even staged in nearby Boonton with Kathy Ireland jogging down the main street and Martha Stewart driving an 18-wheeler. Scenes of Bob Hope eating breakfast were filmed at the local Boonton Diner.
The 120,000 square foot Big Kmart store replaced a former Kmart one mile up the highway, which had originally been a J.M. Fields. In 2005, the store was re-bannered as Sears Essentials. New Sears carpeting, separate dressing rooms for men and women, and better-quality Sears fixtures were installed as part of the conversion. Unfortunately, many departments were poorly merchandised and shoppers encountered lots of empty shelf space in the huge store. To top it off, Eddie Lampert and his crew raised prices. The previously proud and busy Kmart quickly became a place people avoided and the store was often deserted.
In 2010, the company admitted defeat on the concept and after a 2-day liquidation, the store reverted back to Kmart. Most of the Sears fixtures were left in place but the store did receive a very seldom seen and short-lived Kmart interior package with red and white department signage featuring pictures of people.
According to the company the store will close in November. Eligible employees impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores, according to the company.