Kmart bought out Sears in 2005 and formed a new corporation: Sears Holdings Corporation.

The first Kmart opened in 1962. In 1977, the S. S. Kresge Corporation changed its name to the Kmart Corporation. In 2005 Sears Holdings Corporation became the parent of Kmart and Sears, after Kmart bought Sears, and formed the new parent.

Kmart is owned by the Sears Holdings Corporation, which like any corporation, is owned by shareholders.

A CEO on day took over both kmart and sears and decided to name it sears holdings because sears has a better reputation than kmart.

President, Kmart Corporation

harrison Richards