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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. The discounter was renamed the Kmart Corporation in 1977.
S.S. Kresge (born July 31, 1867, Bald Mount, Pa., U.S.—died Oct. 18, 1966, East Stroudsburg, Pa.) was an American merchant who established a chain of nearly 1,000 variety and discount stores throughout the United States.
With a simple but profound directive, “To promote the well-being of mankind,” The Kresge Foundation was established in 1924 by Detroit retail magnate Sebastian Spering Kresge (1867-1966) as he built one of America’s largest retail enterprises, the S.S. Kresge Company, and used his wealth to contribute to the general benefit and welfare of ...
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.
S. S. Kresge, the founder of the company that would become Kmart, met variety-store pioneer Frank Winfield Woolworth while working as a traveling salesman and selling to all 19 of Woolworth's stores at the time. In 1897, Kresge invested $6,700 saved from his job into a five-and-dime store in Memphis, Tennessee.
Learn about the founder of Kresge, one of the first mass discounters in the United States. He started with ten-cent stores and built a chain of almost 600 stores by his retirement.
Learn about the history of Kresge, a Detroit-born dime store chain that became Kmart and Sears Holding Corporation. Explore the architecture, innovation, and philanthropy of the company and its founder Sebastian Spering Kresge.
