Group 6 Principles of Management Kmart In 1899, Sebastian S. Kresge came up with the idea to open a variety store in downtown Detroit. Kresge sold everything in the store for 5 and10 cents. People loved the low prices, and over the next 20 years Kresge’s little idea expanded into 85 stores with an annual sales of $10 million. In 1918, the S.S. Kresge company made another big move becoming publicly traded on the NYSE (New York Stock Exchange).
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