The company was founded in 1962 and is the third largest discount store chain in the world , behind Walmart and Target , with stores in the United States , Puerto Rico , the U.S. Virgin Islands , and Guam ( which houses the world 's largest Kmart ) .
It is the third largest discount store in the world , behind Walmart and Target . Kmart has stores in the United States , Puerto Rico , the U.S. Virgin Islands , and Guam .