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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. Vibhu Bhardwaj.
Kmart is a discount store name and perhaps more able to compete with Wal-Mart on that basis than Sears, he said. There have been several corporate mergers in the past where the buyer kept the acquired company's brand and lost its own name, including First Union's purchase of Wachovia in 2001.