K in Kmart

Sebastian Kresge founded K-Mart

aactually its KAVORKA, an eastern european satanic power that practitioners of the occult have acquired, very secret.

http://money.cnn.com/2002/01/22/news/kmart_timeline/

I remember Kresge. It was in competition with Woolworth's, which was the top "five and dime" store of the era.

In case you are interested, I found a history of Woolworth's. At one time, both Kresge's and Woolworth's were a force to be reckoned with. Woolworths is gone now........Kresge is undergoing yet another incarnation.

http://en.wikipedia.org/wiki/F.W._Woolworth

Ahhh...the Amazing Kresge.

How about that! Here is a picture of an old Kresge store in Battle Creek Michigan. And look who is right next door. F.W.Woolworth, Kresge's arch rival!

It's interesting to note that Wal-Mart's foundation was built on the "five & dime" discount concept.

What Sam Walton did, however, was to make deals with suppliers for huge quantities of one item at drastic discount.

Then he introduced the marketing concept of throwing everything in a bin, advertising the one or two incredibly-good bargains he had, and the customers would flock to his store instead of the old Ben Franklin across the street.

Naturally, while in his store, people would buy other things...plus, they'd assume that since his price on the items in the bins were so cheap, he must have low prices on the other stuff in the store (most buyers don't have prices memorized).

General Tsao

Yes, WalMart hit a home run with its strategy all right. Only they sold their corporate soul to China, where all their stuff is made.

The chickens will some day come home to roost...

We still have a lot of them over here. They are popular, but I have no idea why.

It's either 5 to 10 at Leavenworth or 9 to 5 at Woolworth (Groucho Marx)

K is for Krap.

Kmart
In case no one has emailed you the K stands for Kressge- there used to be Kressege stores and in the 60's they opened Kmart.
Bobbi

Kmart
A RETAILING LEGEND IS BORN


More than one hundred years ago, Sebastian Spering Kresge opened a modest five-and-dime store in downtown Detroit...and changed the entire landscape of retailing. The store that Kresge built has evolved into an empire of more than 1,500 stores and an Internet presence that reaches millions of customers. The Kmart name has become a symbol of Americana, standing for quality products at low prices.

When Kresge opened his first store in 1899, he sold everything for 5 and 10 cents. The low prices appealed to shoppers and allowed him to expand to 85 stores in 1912, with annual sales of more than $10 million.
Hopefully helpful

Actually, Kresge opened together with his partner John G. McCrory in 1897 two five-and-dime stores in Memphis, Tenn., and Detroit, Mich., first, before he became the sole owner of the Detroit operation in 1899 :wink:


And of course:

welcome to A2K, bobbij!

Welcome, indeed, bobbij. McCrory started his own chain of "five and dimes." But it was the Kresge company that revolutionized retailing (for better or for worse) with the big box, suburban stores. Wal-mart eclipsed them with their focus on the supply trail.
It is interesting to note that, if you listen closely, you will still hear that "funding (for this or that) comes from a grant from the Kresge Foundation."

Sears and Kmart are merging; keeping the Sears name. But senior management will be from Kmart.
Can these two combined weak companies compete with Walmart and Target? I doubt it.

http://en.wikipedia.org/wiki/F.W._Woolworth_Company



Grand Duke-
Apparently, Woolworth's is still going strong in the UK, although it is a defunct company in the US.