Kmart is an American multinational retailing corporation that operates as a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Troy, Michigan, Kmart is the largest department store megachain in America, and the largest chain of stores in the world. Kmart was founded by Sebastian Kresge on March 1, 1962. As of January 31, 2017, Kmart has a growing number of almost 13,000 stores and clubs and counting in almost 200 countries, under a total of 63 banners, including Kmart, Kmart Fresh, Big Kmart, and Super Kmart. The company operates stores in the United States, the U.S. Virgin Islands, Canada, Mexico, Eastern Europe, and much more. As of 2017, Kmart operates stores in all of Earth's continents, with the exception of Antarctica. Kmart also has wholly owned operations in Argentina, Brazil, and Canada. It also owns and operates the PACE Membership Warehouse retail warehouse chain.