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S. S. Kresge Biography. S. S. Kresge. (Sebastian Spering Kresge) merchant, philanthropist. Born: 7/31/1867. Birthplace: Bald Mount, Pa. With a newly minted business degree in hand, Kresge worked as a traveling tinware salesman (1890–97) before opening the first of his discount retail stores whose merchandise was all priced at less than a dime.
Kresge's personal life is more tragic than his business life, in which he was a constant success. Kresge was married three times. His first two marriages, to Anna Harvey from 1897 to 1924 and to Doris Mercer from 1924 to 1928, ended in divorce. Both women claimed that Kresge's penny-pinching was one of the major contributors to the divorces.
Jan 21, 2002 · Jan. 21, 2002. Achronology of the Kmart Corporation. 1899. Sebastian S. Kresge founds the S.S. Kresge Company, opening the first store in Detroit. 1925. S.S. Kresge goes public and is listed on ...
Dec 12, 2007 · Sebastian Spering Kresge started with a handful of such small stores called Kresge’s Five and Dime, and through profitable business practices, he went on to form the well-known retail company, K-Mart. Sebastian Spering Kresge was born July 31, 1867 in the West End of Monroe County to Sebastian and Catherine (Kunkle) Kresge.
Expanding Equity andOpportunity in America’s Cities. 3215 W. Big Beaver Road Troy, MI 48084 +1 248-643-9630. Contact Us. Kresge is a strategic philanthropy, guided by six values, that works through grantmaking and social investing to expand opportunity in America’s cities.
In 1976, S.S. Kresge made history by opening 271 Kmart stores in one year, becoming the first-ever retailer to launch 17 million square feet of sales space in a single year. In 1977, nearly 95 percent of S.S. Kresge Company sales were generated by Kmart stores. To reflect this dramatic impact, the company officially changed its name to Kmart ...
Oct 12, 2014 · Lethbridge Historical Society. S.S. Kresge Co. purchased property on 5 Street South in 1929 and opened a “five & ten-cent” department store. The Kresge in Lethbridge was the 1st in Alberta and the 25th Kresge stores in Western Canada. Kresge’s was an American chain store of five-and-ten-cent stores, which had inexpensive goods for sale.
