A Discount Store is a Type of Department Store

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  A discount store is a type of  department store,which sells products at  prices lower than those asked by traditional retail outlets. Most discount department stores offer a wide assortment of goods; others specialize in such merchandise as jewelry, electronic equipment, or electricalappliances. Discount stores are not variety stores,which sell goods at a single price-point or  multiples thereof (£1, $2, etc.). Discount stores differ from variety stores in that they sell manyname-brand products, and because of the wide price range of the items offered. Following WorldWar II,a number of retail establishments in the U.S. began to pursue a high-volume, low-profit-margin strategy designed to attract price-conscious consumers. [ citation needed  ]  Currently Wal-Mart,the largest retailer in the world, operates more than 1,300 discount stores in the U.S. Target and Kmart are Wal-Mart's top competitors. Wal-Mart as of 2004, owns 90% of  the Asda chain of supermarkets in the UK. As of 2008, the main rival to Asda is Tesco.  History During the period from the 1950s to the late 1980s, discount stores were more popular than theaverage supermarket or department store in the United States. There were hundreds of discount stores in operation, with their most successful period occurring during the mid-1960s in the U.S.with discount store chains such as Kmart, Ames, E. J. Korvette, Fisher's Big Wheel, Zayre,  Bradlees, Caldor , Jamesway Howard Brothers Discount Stores, Kuhn's-Big K  (sold to Wal-Mart  in 1981), TG&Y and Woolco (closed in 1983, part sold to Wal-Mart) among others. [ citation needed  ]  Wal-Mart, Kmart,and Target all opened their first locations in 1962. Other retail companies  branched out into the discount store business around that time as adjuncts to their older storeconcepts. As examples, Woolworth opened a Woolco chain (also in 1962); Montgomery Ward  opened Jefferson Ward; Chicago-based Jewel launched Turn Style;and Central Indiana-based L. S. Ayres created Ayr-Way. J.C. Penney opened discount stores called Treasure Island or  The Treasury,and Atlanta-based Rich's owned discount stores called Richway.During the late 1970s and the 1980s, these chains typically were either shut down or sold to a larger competitor. Kmartand Target themselves are examples of adjuncts, although their growth prompted their respective parent companies to abandon their older concepts (the S.S. Kresge five and dime store disappeared, while the Dayton-Hudson Corporation eventually divested itself of its department store holdings and renamed itself Target Corporation). [ citation needed  ]  In the United States, discount stores had 42% of overall retail market share in 1987; in 2010,they had 87%. [1]  Many of the major discounters now operate supercenters , which add a full-service grocery store to the traditional format. The Meijer  chain in the Midwest consists entirely of supercenters, while Wal-Mart and Target have focused on the format as of the 1990s as a key to their continued growth. Although discount stores and department stores have different retailing goalsand different markets, a recent development in retailing is the discount department store , suchas Sears Essentials,which is a combination of the Kmart and Sears formats, following the companies' merger as Sears Holdings Corporation.    
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