Kmart (sometimes stylized as K mart or kmart) is a chain of big box department stores headquartered in Hoffman Estates, Illinois, United States. The chain purchased Sears for $11 billion in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest big box chain in North America, behind Walmart and Target, with stores in the U.S., Puerto Rico, the U.S. Virgin Islands, and Guam (which houses the world's largest Kmart). It also used to operate stores in Canada, Mexico, and Eastern Europe. As of January 30, 2016, the company operated a total of 941 Kmart stores in 49 states, Guam, Puerto Rico, and the U.S. Virgin Islands, including 934 discount stores, averaging 95,000 sq ft (8,800 m2), and a Super Center, averaging 170,