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American businessman
- 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. The discounter was renamed the Kmart Corporation in 1977.
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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.
Founded by retailer Sebastian S. Kresge in 1924, The Kresge Foundation continues to fulfill his mandate: To promote human progress.
Jun 11, 2024 · He began as a stock boy; after college he served as a loyal S.S. Kresge Co. executive for 37 years and a foundation trustee for a whopping 55 years. But there was no expectation for subsequent generations to work for the company or serve the foundation.
S.S. Kresge Company. Before discount stores, there were variety “dime stores,” called so because products sold for either a dime or a nickel. Kresge, founded in 1899, was a Detroit-born dime store where shoppers could find daily needs such as housewares, linens, clothing, school supplies, and toys.
The S.S. Kresge Co. grew to be the second-largest variety chain in the U.S. The stores changed as retail trends matured over the years. The company battled anti-chain store sentiment in the 1920s and 30s.
The variety store was a social invention of S. S. Kresge (1867 – 1966), the man who, at the turn of the twentieth century, began building so-called "five-and-dime" stores. By the mid-century these stores had evolved into the Kresge "variety stores" found in most American towns.
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.
