Kresge, S(ebastian) S(pering)

Kresge, S(ebastian) S(pering) extract from Britannica Online.

(born July 31, 1867, Bald Mount, Pa., U.S.—died Oct. 18, 1966, East Stroudsburg, Pa.) U.S. merchant. He worked as a traveling salesman before becoming a partner in 5-and-10-cent stores in Memphis, Tenn., and Detroit, Mich., in 1897. He opened several others in major Midwest cities, founding the S.S. Kresge Co. in 1907 (incorporated 1912). After World War II the firm expanded into large discount stores in the U.S., Puerto Rico, and Canada, which eventually numbered nearly 1,000. Kresge established a major charitable foundation in 1924. His retail empire became the foundation of the Kmart Corp.

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