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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.
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.
S.S. Kresge stock was one of the best investments of the so-called “Roaring 1920s,” with prices before the 1929 stock crash approaching $900 a share. While no single factor explains the company's prosperity during this period, the hard work of its founder played a major role.
By the time of his death, the man who had acquired a reputation as a cheapskate had given away most of his wealth, including 2,500,000 shares of Kresge stock, now worth $100 million, to his ...
The S.S. Kresge Company made notable contributions to Detroit architecture, specifically the Kresge Building (now the Kales Building) on Grand Circus Park, an Albert Kahn design that served as company headquarters from 1914-1930.
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.
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