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| | Sears, Kmart to Merge in $11B Deal (washingtonpost.com) |
 | | Sears and Kmart, troubled in recent years by lackluster sales, uninviting stores and, most significantly, competition from Wal-Mart and Target, announced a merger today that will create the nation's third largest retailer. |
 | | Sears, Roebuck and Co., founded by Richard Sears and Alvah Roebuck, came into existence in 1893 in Chicago. |
 | | Both Sears and Kmart, along with other traditional department stores, suffered at the hands of massive shopping centers, where consumers could get the same products in gleaming specialty stores and, most recently, at the hands of giant discounters such as Wal-Mart and Target, with their technology-driven efficiencies. |
| www.washingtonpost.com /wp-dyn/articles/A56358-2004Nov17.html (575 words) |
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