Retailing: Kresge's Ten Billion Dimes

Employees at S. S. Kresge Co. say that their founder has always "looked at money as a tool," and there is no doubt that Sebastian Spering Kresge has used dimes as crowbars. When he was in formed years ago that his variety-store chain had reached sales of $10 million, he noted that the sum was "100 million dimes." Closely watching the pennies as well, Kresge insisted that he "never spent more than 300 for lunch in my life," and admitted giving up golf out of fear of losing too many golf balls. For all his personal frugality, Kresge has...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!