Tuesday, August 14, 2007

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.

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Wonder what it was like to go through life with a name like Sebastian Spering....

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