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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.
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S.S. Kresge, in full Sebastian Spering Kresge, (born July 31, 1867, Bald Mount, Pa., U.S.—died Oct. 18, 1966, East Stroudsburg, Pa.), American merchant who established a chain of nearly 1,000 variety and discount stores throughout the United States.
In June 1924, at the age of 57 and on the occasion of his company’s 25th anniversary, he established The Kresge Foundation “for the benefit of mankind” with an initial $1.3 million gift. Although located in the same building until 1965, The Kresge Foundation was and remains a separate entity from S.S. Kresge Co. and its successor, Kmart Corp.
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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. Sebastian Spering Kresge began his dime store career as a partner of J.G. McCrory, owner of a dime store chain. The two opened stores in Detroit and Memphis.
Kmart, original name S.S. Kresge Co., American retail chain with a history of marketing general merchandise primarily through discount and variety stores. It is a subsidiary of Sears Holdings Corporation. The company was founded by Sebastian S. Kresge, a traveling hardware salesman, and John G. McCrory, owner of eight general merchandise stores in the eastern United States and one of Kresge ...
The Kresge Foundation was founded by Sebastian S. Kresge in 1924 with a single but extraordinary mission: To promote human progress. For more than eight decades, we did so through capital challenge grants, helping to establish educational, cultural and health care facilities across the country.
Entrepreneur. He was the founder of the S.S. Kresge Company, a chain of dime stores, which developed into full-fledged variety stores. At first, he became the partner with J.G. McCrory, owner of a Five-and-Dime store chain. In 1912, he incorporated the S.S. Kresge Company with 85 stores. With the 1962 opening...
Official S.S.Kresge Company bringing back Sears and Kmart Cambridge, MA
S. S. Kresge Born: July 31, 1867 Bald Mount, Pennsylvania Died: October 18, 1966 East Stroudsburg, Pennsylvania Entrepreneur and philanthropist S. S. Kresge. Reproduced by permission of Corbis Corporation (Bellevue). S. S. Kresge worked hard, spent his money only when necessary, and saved
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