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Kmart once was the nation number one discount retailer, now struggles to make a profit. The mega discount store has a long history in retail that dates back 103 years, established by Sebastian Kresge in 1899. The company went public in 1918 on the New York Stock Exchange. In 1966 sales topped one billion, S. S. Kresge runs 915 stores, including 162 Kmarts. In 1977 the company changes its name from S.S. Kresge to Kmart Corporation. Over the company’s 103-year history it has acquired several profitable chain of stores. Walden Book Company, Home Centers