Search results
The new department store company was completely independent from the S.S. Kresge discount department store company. By 1924, Kresge was worth approximately $375,000,000 ($3.83 billion in 2009 dollars [2] ) and owned real estate of the approximate value of $100,000,000.
- Eastman Business College
- October 18, 1966 (aged 99), East Stroudsburg, Pennsylvania, U.S.
- Sebastian Spering Kresge, July 31, 1867, Allentown, Pennsylvania, U.S.
- Kmart
Mar 20, 2024 · Kresge also established the Kresge Foundation in 1924 to benefit educational and charitable activities. By the time of Kresge’s death in 1966, the foundation had distributed $70,000,000 in grants with a remaining net worth of $175,000,000. This article was most recently revised and updated by Encyclopaedia Britannica.
- The Editors of Encyclopaedia Britannica
Jul 3, 1985 · Starting with a single store in Detroit in 1899, Sebastian Kresge built a chain of hundreds of 5-and-10-cent stores that today, as the K Mart Corporation, is the world's second largest retailer ...
S. S. Kresge. Born: July 31, 1867. Bald Mount, Pennsylvania. Died: October 18, 1966. East Stroudsburg, Pennsylvania. Entrepreneur and philanthropist. S. S. Kresge worked hard, spent his money only when necessary, and saved it wisely. This penny-pinching attitude, which began early in life, led him to become an extremely successful businessman ...
Sep 27, 2015 · 1912 – The S.S. Kresge Company goes public. There were now 85 stores with $10.3 million in sales. 1915 – S.S. builds the Kresge Building in Detroit and a home on Boston Boulevard for his first ...
Expanding Equity andOpportunity in America’s Cities. 3215 W. Big Beaver Road Troy, MI 48084 +1 248-643-9630. Contact Us. Founded by retailer Sebastian S. Kresge in 1924, The Kresge Foundation continues to fulfill his mandate: To promote human progress.
Kresge incorporated the company in 1912 under his own name as the S.S. Kresge Company. By this time there were 85 stores valued at over $10 million. The era of “five and dimes” ended in 1917 when Kresge’s was forced to raise prices to fifteen cents, due to World War I inflation. In 1921, the company opened “green front” stores that ...
