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- These brought the total number of Kresge stores to 597, together yielding sales of $156.3 million.
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Sebastian Spering Kresge (July 31, 1867 – October 18, 1966) was an American businessman. He created and owned two chains of department stores: the S. S. Kresge Company, one of the 20th century's largest discount retail organizations, and the Kresge-Newark traditional department store chain.
Kmart store openings accelerated nationwide throughout the next three decades, eventually replacing Kresge stores, the last of which were sold to the McCrory Corporation by 1987. By 1996, Kmart was a global company operating more than 2,100 stores with $31 billion in sales.
By the end of 1981, there were 2,055 Kmart stores across the United States and Canada. [31] In 1987, the Kmart Corporation sold its remaining 76 Kresge and Jupiter stores in the United States to McCrory Stores, [32] and the brands were almost entirely discontinued, although Canadian Kresge and Jupiter stores continued to operate until 1994. [33]
Numerous Kresge stores, mostly in deteriorating business areas, were renamed Jupiter Discount Stores and converted to facilities offering a limited variety of low markup, fast-moving merchandise such as clothes, drugstore items, and housewares. By 1966 there were almost 100 Jupiter stores in operation. In 1965 the company underwent several changes.
Dec 29, 2022 · Kresge, one of the top three variety store chains in the US, had 742 stores by its 40th anniversary in 1938, mainly in the Midwest and eastern US. By 1952, Kresge introduced a new retail innovation by converting its stores to a checkout system instead of one cashier per showcase.
As one of America’s top three variety store chains, Kresge had 742 stores by its 40th anniversary in 1938, primarily in the Midwest and eastern U.S. The firm began a retail innovation in 1952 by converting their stores to a checkout operation, rather than one cashier behind each showcase.
Sep 23, 2024 · Kresge ultimately became the sole owner of this venture and by 1907 operated S.S. Kresge stores in eight cities between Chicago and Pittsburgh, Pennsylvania. With Kresge as president (1907–25) and chairman of the board (1913–66), the company expanded steadily.
