<P> On November 8, 2004, Kmart launched the Kmart Rewards credit card that is managed by HSBC Bank . </P> <P> On November 17, 2004, Kmart's management announced its intention to purchase Sears for $11 billion . As a part of the merger, the Kmart Holding Corporation (the company that owns Kmart) would be transferred to the new Sears Holdings Corporation and Sears would be purchased by the new Sears Holdings Corporation . The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands . Around this time, Kmart changed its logo from a red K with the script "mart" inside to the same K with the chain's name in lowercase letters below it . Kmart's headquarters were relocated to Hoffman Estates, Illinois, and in 2012 the sprawling headquarters complex in Troy, Michigan, was acquired by the Forbes Company, which owns the nearby upscale mall, Somerset Collection . No concrete plans for redevelopment of the site had been announced . In 2005, Sears Holdings Corporation introduced the Sears Essentials store format, which was supposed be like a Sears store and a Kmart store mixed together . Sears Essentials stores were also freestanding (not located at a shopping mall) store . In 2006, the company discontinued the Sears Essentials name, and renamed all of the Sears Essentials stores as Sears Grand stores . </P> <P> Kmart started remodeling stores to the "Orange" prototype in 2005 . In 2006, the typical white and blue interior of the stores was changed to orange and brown, and shelf heights were lowered to create better sightlines . The remodeled stores contain an appliance department with Kenmore Appliances and most have hardware departments that sell Craftsman tools, which prior to the merger had been exclusive to Sears stores . Some auto centers left vacant by Penske after Kmart filed for bankruptcy had been converted to Sears Auto Centers . 280 stores as of 2009 had been remodeled to this new prototype . </P> <P> In July 2009, Sears Holdings opened its first Sears - branded appliance store inside a Kmart . The 4,000 sq ft (370 m) store - within - a-store opened inside the former garden department of a Birmingham, Alabama, Kmart . It is two - thirds the size of the appliance department in most Sears stores, but larger than the 2,500 sq ft (230 m) appliance department in remodeled Kmart stores . </P>

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