Kmart brings back the Blue Light Special

"Attention Kmart shoppers" and the accompanying siren is once again sounding in stores as Kmart brings back the Blue Light Special.

The retailer started sounding sirens on Friday and announced the effort via a marketing and ad campaign during Sunday Night Football.

The Blue Light Special once helped define the discount store, created in 1965 to clear slow moving merchandise, according to Yahoo News. Previously, sales were announced in-store, the blue light came on, and a siren sounded. Shoppers would then have a short window of time to take advantage of the markdown.

Today, that deal will run for 15 minutes and be available both in-store and online—much like Amazon's Lightning Deals.

This isn't the first time Kmart executives tried to bring back the Blue Light Special. The last attempt was in 2001, just before the chain filed for Chapter 11 bankruptcy protection. After emerging in 2002, the company was combined with Sears to create Sears Holdings, in a deal orchestrated by majority shareholder and current CEO Eddie Lampert.

"It's part of our DNA," said Kmart President Alasdair James. "We think there is a real positive buzz coming out of it and we expect to see an increase in sales."

Kmart could certainly use an increase in sales this holiday season. Comparable store sales declined 7.3 percent for the most recently completed fiscal quarter. Although Sears Holdings reported its first profit in three years, sales have dropped a stunning 67 percent since before its bankruptcy and subsequent reinvention as part of Sears Holdings.

Management has closed stores, invested in online improvements, and created the Shop Your Way rewards program to drive loyalty and sales from its best customers.

For more:
-See this CNN Money story
-See this Yahoo News story

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Sears opens smart technology flagship in Silicon Valley
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Sears considering REIT to raise more cash
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