Sebastian Spering Kresge (July 31, 1867 – October 18, 1966) was an American businessman. He created and owned two chains of

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store, each area ("department") specializing in a product category. In modern major cities, the department store made a dramatic app ...

s, the

S. S. Kresge Company S is the nineteenth letter of the English alphabet. S may also refer to: History * an Anglo-Saxon charter's number in Peter Sawyer (historian), Peter Sawyer's, catalogue Language and linguistics * Long s (ſ), a form of the lower-case letter s ...

, 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.

Early life and education

Kresge was born near

Allentown, Pennsylvania Allentown (Pennsylvania Dutch language, Pennsylvania Dutch: ''Allenschteddel'', ''Allenschtadt'', or ''Ellsdaun'') is a city in Lehigh County, Pennsylvania, Lehigh County, Pennsylvania. The city has a population of 125,845 as of the 2020 United ...

, the son of Sebastian Kresge and the former Catherine Kunkle. Living on the family farm in Kresgeville (named for his ancestors) until he was 21 years old, he was educated in the local public schools, the Fairview Academy, in Brodheadsville, Pennsylvania, and at the Eastman Business College in

Poughkeepsie, New York Poughkeepsie ( ), officially the City of Poughkeepsie, separate from the Town of Poughkeepsie around it) is a city in the U.S. state of New York. It is the county seat of Dutchess County, with a 2020 census population of 31,577. Poughkeepsi ...

, from which he graduated in March 1889.

Career

Following his graduation, he clerked in a hardware store for two years, then worked as a traveling salesman from 1892 to 1897. On March 20, 1897, Kresge began working for James G. McCrory, the founder of J.G. McCrory's, at a five and ten cent store in

Memphis, Tennessee Memphis is a city in the U.S. state of Tennessee. It is the seat of Shelby County in the southwest part of the state; it is situated along the Mississippi River. With a population of 633,104 at the 2020 U.S. census, Memphis is the second-mos ...

. He continued there for two years. In 1899 he founded his own company, with Charles J. Wilson, with an $8,000 investment in two five-and-ten-cent stores; one was in downtown Detroit, Michigan, for which he traded ownership in McCrory's. In 1912, he incorporated the S.S. Kresge Company with 85 stores. The company was first listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

on May 23, 1918. During

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, Kresge experimented with raising the limit on prices in his stores to $1. In 1923, he again started a new company, buying out L.S. Plaut & Co., a large traditional department store in

Newark, New Jersey Newark ( , ) is the most populous city in the U.S. state of New Jersey and the seat of Essex County and the second largest city within the New York metropolitan area.Kresge's New Chain
''Time'', August 13, 1923 By 1924, Kresge was worth approximately $375,000,000 ($ in 2009 dollars) and owned real estate of the approximate value of $100,000,000.

Personal life

He was married and divorced at least twice by 1928.

Farid-Es-Sultaneh v. Commissioner ''Farid-Es-Sultaneh v. Commissioner'', 160 F.2d 812 (2d Cir. 1947) is a United States federal income tax case. It is notable (and thus appears frequently in law school casebooks) for the following holding: * Appreciated property, transferred to ...

, 160 F.2d 812 (2d Cir. 1947) Kresge and his family were members of Detroit's North Methodist Episcopal Church. He held membership in numerous organizations including four Masonic lodges and the Ancient Arabic Order of the Nobles of the Mystic Shrine,

YMCA YMCA, sometimes regionally called the Y, is a worldwide youth organization based in Geneva, Switzerland, with more than 64 million beneficiaries in 120 countries. It was founded on 6 June 1844 by George Williams in London, originally ...

, the Detroit Athletic,

Boat A boat is a watercraft of a large range of types and sizes, but generally smaller than a ship, which is distinguished by its larger size, shape, cargo or passenger capacity, or its ability to carry boats. Small boats are typically found on inl ...

, and

Golf Golf is a club-and-ball sport in which players use various clubs to hit balls into a series of holes on a course in as few strokes as possible. Golf, unlike most ball games, cannot and does not use a standardized playing area, and coping wi ...

Clubs, Rotary, and various commercial and automobiling societies. Kresge died on October 18, 1966, at the age of 99.

Legacy

The first Kmart opened in 1962 in

Garden City, Michigan Garden City is a city in Wayne County of the U.S. state of Michigan. As of the 2010 census, the city population was 27,692. The city is part of the Metro Detroit region and is approximately west of the city of Detroit. M-153 (Ford Road) r ...

. Kresge died in 1966. In 1977, the S. S. Kresge Corporation changed its name to the Kmart Corporation. In 2005,

Sears Holdings Corporation Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th-l ...

became the parent of Kmart and Sears, after Kmart bought Sears, and formed the new parent. In 1924, Kresge established The Kresge Foundation, a non-profit organization whose income he specified simply "to promote the well-being of mankind". By the time of his death, Kresge had given the foundation over $60,000,000. A strongly committed

prohibition Prohibition is the act or practice of forbidding something by law; more particularly the term refers to the banning of the manufacture, storage (whether in barrels or in bottles), transportation, sale, possession, and consumption of alcoholic ...

ist, he organized the National Vigilance Committee for Prohibition enforcement and also heavily supported the Anti-Saloon League financially, though he later stopped contributions. By 2018, the Foundation's endowment had grown to $3.6 billion.

Namesakes

Numerous places have been named after Kresge: *The S.S. Kresge Learning Resource Center at

Meharry Medical College Meharry Medical College is a private historically black medical school affiliated with the United Methodist Church and located in Nashville, Tennessee. Founded in 1876 as the Medical Department of Central Tennessee College, it was the first me ...

, established through a grant from the Kresge Foundation *The Kresge Eye Institute at

Wayne State University Wayne State University (WSU) is a public research university in Detroit, Michigan. It is Michigan's third-largest university. Founded in 1868, Wayne State consists of 13 schools and colleges offering approximately 350 programs to nearly 25,000 ...

, established through a grant from the Kresge Foundation *The Kresge Science Complex at Albion College, in Albion, Michigan *A street in Amherst, Ohio, Kresge Drive *The southern tip of Pemaquid Point in New Harbor, Maine, Kresge Point (they had a summer house there) *

Kresge College Kresge College is one of the residential colleges that make up the University of California, Santa Cruz. Founded in 1971 and named after Sebastian Kresge, Kresge college is located on the western edge of the UCSC campus. Kresge is the sixth of t ...

, a residential college at the

University of California, Santa Cruz The University of California, Santa Cruz (UC Santa Cruz or UCSC) is a public university, public Land-grant university, land-grant research university in Santa Cruz, California. It is one of the ten campuses in the University of California syste ...

*The Kresge Auditorium at

Bowdoin College Bowdoin College ( ) is a private liberal arts college in Brunswick, Maine. When Bowdoin was chartered in 1794, Maine was still a part of the Commonwealth of Massachusetts. The college offers 34 majors and 36 minors, as well as several joint eng ...

*The Kresge Auditorium at Olivet Nazarene University *The

Kresge Auditorium Kresge Auditorium (MIT Building W16) is an auditorium structure at the Massachusetts Institute of Technology, located at 48 Massachusetts Avenue, Cambridge, Massachusetts. It was designed by the Finnish-American architect Eero Saarinen, with gr ...

at the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...

*The Kresge Auditorium at

Stanford University Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is consider ...

, torn down in 2009 *The Kresge Auditorium at

Interlochen Center for the Arts Interlochen Center for the Arts is a non-profit corporation which operates arts education institutions and performance venues in northwest Michigan. It is situated on a campus in Interlochen, Michigan, roughly southwest of Traverse City. In ...

Interlochen, Michigan Interlochen ( ') is an Unincorporated area, unincorporated community and census-designated place (CDP) in Grand Traverse County, Michigan, Grand Traverse County in the U.S. state of Michigan. At the 2020 United States census, 2020 census, the pop ...

*The Kresge Auditorium at Indiana University at Kokomo -

Kokomo, Indiana Kokomo ( ) is a city in Indiana and the county seat of Howard County, Indiana, United States. It is the principal city of the Kokomo, Indiana Metropolitan Statistical Area, which includes all of Howard County, the Kokomo-Peru CSA, which includ ...

*One of

Carnegie Mellon College of Fine Arts The College of Fine Arts (CFA) at Carnegie Mellon University in Pittsburgh, in the U.S. state of Pennsylvania oversees the Schools of Architecture, Art, Design, Drama, and Music along with its associated centers, studios, and galleries. The Colle ...

' theaters *The Kresge Ford Building at

College for Creative Studies College for Creative Studies (CCS) is a private art school in Detroit, Michigan. It enrolls more than 1,400 students and focuses on arts education. The college is also active in offering art education to children through its Community Arts Part ...

in Detroit, Michigan *The Kresge Library at

Oakland University Oakland University is a public research university in Auburn Hills and Rochester Hills, Michigan. Founded in 1957 through a donation of Matilda Dodge Wilson, it was initially known as Michigan State University-Oakland, operating under the Mi ...

in Rochester, Michigan *The Kresge Library at

University of Michigan , mottoeng = "Arts, Knowledge, Truth" , former_names = Catholepistemiad, or University of Michigania (1817–1821) , budget = $10.3 billion (2021) , endowment = $17 billion (2021)As o ...

Ross School of Business The Stephen M. Ross School of Business, also known as Michigan Ross, is the business school of the University of Michigan, a public research university in Ann Arbor, Michigan. Founded in 1924, the school is ranked among the best business schools i ...

*The Kresge Memorial Library at Covenant College *The Kresge Engineering Library at

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u ...

*The Kresge Physical Sciences Library at

Dartmouth College Dartmouth College (; ) is a private research university in Hanover, New Hampshire. Established in 1769 by Eleazar Wheelock, it is one of the nine colonial colleges chartered before the American Revolution. Although founded to educate Native A ...

*Kresge Chapel on the campus of

Claremont School of Theology Claremont School of Theology (CST) is an American graduate school focused on religion and theology and located in Claremont, California. CST is fully recognized and approved as one of thirteen official theological schools of the United Methodis ...

*Kresge Hall at

Northwestern University Northwestern University is a private research university in Evanston, Illinois. Founded in 1851, Northwestern is the oldest chartered university in Illinois and is ranked among the most prestigious academic institutions in the world. Charte ...

, which currently houses the

Weinberg College of Arts and Sciences Northwestern University is a private research university in Evanston, Illinois. Founded in 1851, Northwestern is the oldest chartered university in Illinois and is ranked among the most prestigious academic institutions in the world. Chartere ...

*Kresge Hall at Bentley University, a residence hall built in 1975 *Kresge Hall at

Harvard Business School Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...

and the Kresge Building at the Harvard School of Public Health *Kresge Hall at

Metropolitan United Methodist Church The Metropolitan United Methodist Church is a church located at 8000 Woodward Avenue (at Chandler) in the New Center area of Detroit, Michigan. It was completed in 1926, listed on the National Register of Historic Places in 1982, and designated ...

*Kresge Dining Hall at

John Brown University John Brown University (JBU) is a Private university, private, interdenominational, Christianity, Christian university in Siloam Springs, Arkansas. Founded in 1919, JBU enrolls 2,343 students from 33 states and 45 countries in its traditional und ...

*The Kresge Law Library at the

University of Notre Dame The University of Notre Dame du Lac, known simply as Notre Dame ( ) or ND, is a private Catholic research university in Notre Dame, Indiana, outside the city of South Bend. French priest Edward Sorin founded the school in 1842. The main campu ...

was funded, in part, by a grant from the Kresge Foundation. *The Kresge Art Center at

Michigan State University Michigan State University (Michigan State, MSU) is a public university, public Land-grant university, land-grant research university in East Lansing, Michigan. It was founded in 1855 as the Agricultural College of the State of Michigan, the fi ...

is his namesake. *The Kresge School of Nursing at the

University of Western Ontario The University of Western Ontario (UWO), also known as Western University or Western, is a Public university, public research university in London, Ontario, London, Ontario, Canada. The main campus is located on of land, surrounded by resident ...

was named after Kresge after he donated $200,000 in 1960. *The Purdy-Kresge Library at

. *The Kresge Administration Building at

Tuskegee University Tuskegee University (Tuskegee or TU), formerly known as the Tuskegee Institute, is a private, historically black land-grant university in Tuskegee, Alabama. It was founded on Independence Day in 1881 by the state legislature. The campus was d ...

*The Kresge Court at the

Detroit Institute of Art The Detroit Institute of Arts (DIA), located in Midtown Detroit, Michigan, has one of the largest and most significant art collections in the United States. With over 100 galleries, it covers with a major renovation and expansion project complete ...

in Detroit, Michigan *YMCA Camp Kresge, owned and operated by the Wilkes-Barre Family YMCA in Wilkes-Barre, Pennsylvania

References

External links

S.S.Kresge Company]
The Kresge Foundation
* {{DEFAULTSORT:Kresge, Sebastian Spering 1867 births 1966 deaths Methodists from Michigan American businesspeople in retailing American temperance activists Businesspeople from Pennsylvania Eastman Business College alumni Kmart People from Wilkes-Barre, Pennsylvania Retail company founders Sears Holdings people American Freemasons