The Daily Mall Reader: Kresge & Kmart, Woolworth & Woolco, And Grant Too

A daily dose of mall-related reading...

"Strength in Variety"

TIME Magazine - Friday, Nov. 20, 1964

(Excerpt) S.S. Kresge is a man as well as a variety store, and, at 97, he was recently called out of retirement to address the annual meeting of the chain that he forged. While stockholders applauded, old S.S. (for Sebastian Spering) got up and exhorted them to make Kresge "an outstanding five-and-ten-cent syndicate."

That did not jibe with President Harry B. Cunningham's idea of his job, and he rose to his feet and said so. Smilingly, he reminded everyone that the nation's third largest variety chain (after F.W. Woolworth and W.T. Grant) has expanded far beyond its old dime-store stage and is, in fact, quite a different creature. This small semantic difference highlights a new philosophy that has set all the variety chains off on their biggest spree of change and expansion.

Read the full article here.

The Daily Mall Reader: Kmart Bargains

A daily dose of mall-related reading...

"Bargains with Few Frills"

TIME Magazine - Monday, Aug. 25, 1980

(Excerpt) Other department stores may try to win back recession-scarred consumers with glamorized décor, personalized service and accordion-like credit arrangements. But K mart Corp, knows that the way to the shopper's heart is still through the pocketbook. Most of the 1,750 stores around the country that show off the company's big red K are riding out the recession relatively well, and the discount chain may displace Sears, Roebuck and Co. as the U.S.'s leading retailer.

K mart has prospered because of a no-frills policy that places the premium on value. In stores that usually have the ambience of a supermarket, customers can wander amid clothing, lawn chairs and stereos, rarely encountering a sales assistant. But the prices, as much as 15% below those at tonier stores, make up for the inconvenience.

Read the full article here.