Retailing: Grant Surrenders

Another nonagenarian merchant finally called it a career last week. One week after his acquaintance and competitor Sebastian Spering Kresge retired at 98 as chairman of S. S. Kresge Co. (TIME, July 1), William Thomas Grant celebrated his 90th birthday by announcing that he was relinquishing the titles of chairman and director of the W. T. Grant Co.

Convinced as a young man that there was a future in variety stores whose prices were midway between those of the five and tens and the more expensive department stores, Yankee Grant opened his first 25¢ store in Lynn, Mass., in 1906,...

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