Target Corporation is the eighth-largest retailer in the United States, is a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, the company was named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and the Dayton Company in 1910; the first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J. L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, Mervyn's. Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; the company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004, it suffered from a massive and publicized security breach of customer credit card data and the failure of its short-lived Target Canada subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.
As of February 2, 2019, Target operates 1,844 stores throughout the United States. The company is ranked No. 39 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Their retail formats include the discount store Target, the hypermarket SuperTarget, "flexible format" stores named CityTarget and TargetExpress before being consolidated under the Target branding. Target is recognized for its emphasis on "the needs of its younger, image-conscious shoppers", whereas its rival Walmart more relies on its strategy of "always low prices"; the Westminster Presbyterian Church in downtown Minneapolis burned down during the Panic of 1893. Without insurance coverage to cover the financial loss, the congregation found itself unable to rebuild; the church appealed to parishioner George Dayton to purchase an empty corner lot adjacent to the original church in its possession. Dayton convinced the Reuben Simon Goodfellow Company to move its nearby Goodfellows department store into the newly erected building in 1902, although its owner retired altogether and sold his interest in the store to Dayton.
The store was renamed the Dayton Dry Goods Company in 1903, was shortened to the Dayton Company in 1910. The company made its first expansion with the acquisition of the Minneapolis-based jeweler J. B. Hudson & Son right before the Wall Street Crash of 1929. Dayton died in 1938 and was succeeded by his son Nelson as the president of the $14 million business. Nelson died in 1950 and was replaced by his own son Donald, who with his cousins replaced the Presbyterian guidelines set by his predecessors with a more secular approach; the company acquired the Lipman's department store company during the 1950s and operated it as a separate division. John F. Geisse developed the concept of upscale discount retailing while working for the Dayton Company. Using his concepts, the company opened its first Target discount store at 1515 West County Road B in the Saint Paul suburb of Roseville, Minnesota; the name "Target" originated from publicity director Stewart K. Widdess, was intended to prevent consumers from associating the discount store with the department store.
It opened three additional units in the first year, reported its first gain in 1965 with sales reaching $39 million. That decade, B. Dalton Bookseller was formed as a subsidiary of the Dayton Company; the parent company acquired the jewelers Shreve & Co. and J. E. Caldwell, the Pickwick Book Shops, the electronics and appliances chain Lechmere, it went public with its first offering of common stock, built its first distribution center in Fridley, Minnesota. In 1969, the Dayton Company itself merged with the Detroit-based J. L. Hudson Company, together formed the Dayton-Hudson Corporation; the new company, at the time the 14th-largest retailer in the United States, consisted of Target and the department stores Dayton's, Diamond's, Hudson's, John A. Brown, Lipman's. Target reached $200 million in sales while Dayton-Hudson acquired Team Electronics and the jewelers C. D. Peacock, Inc. and Jessop and Sons in the 1970s. Target reported a decrease in profits in 1972, due to the rapid pace of expansion with the purchase and conversion of several former Arlan's department store locations.
New management marked down merchandise to reduce its overstock and only opened one new location that year, Target became Dayton-Hudson's top revenue producer in 1975. Dayton-Hudson was established as the seventh-largest general merchandise retailer in the United States with its acquisition of Mervyn's in 1978. Dayton-Hudson sold Lipman's to Marshall Field's and acquired the discount store chain Ayr-Way in 1980, expanded into the West Coast market with the purchase and conversion of several FedMart stores in 1982, it sold the Dayton-Hudson Jewelers subsidiary to Henry Sons of Montreal. The company founded the Plums off-price clothing store with four locations in the Los Angeles area in 1983. In 1985, the company started R. G. Branden's, a chain that
Casey James Mears is an American professional stock car racing driver. He competes part-time in the Monster Energy NASCAR Cup Series, driving the No. 27 Chevrolet Camaro ZL1 for Germain Racing. A former winner of the Coca-Cola 600, Mears is the nephew of four-time Indianapolis 500 winner Rick Mears and the son of IndyCar and off-road veteran Roger Mears, he works as a NASCAR analyst for Fox Sports 1. After racing in go-karts for a season in 1991, Mears began competing in the SuperLites Off-Road Series in 1992 where he posted several top-three finishes, he moved to sprint cars in 1994 and finished third in the Jim Russell USAC Triple Crown Championship, with a win at Mesa Marin Raceway. The next season, he won the championship in the USAC series. In 1996, Mears finished eighth; the following year, he competed full-time in the Indy Lights championship and in 1999 finished second, losing by 14 points. He was just the fourth driver in Indy Lights series history to complete every lap in a single season.
Mears continued to compete in the Indy Lights in 2000 and won his first race at the Grand Prix of Houston meeting in October. After testing Indy Cars for multiple teams in 2000, Mears was offered a chance to drive a third entry for Team Rahal at California Speedway in October. After qualifying 15th and leading 10 laps, he posted a career-best fourth finish in his CART Series debut, he ran three IRL events at the start of the 2001 season and attempted to qualify for the 2001 Indianapolis 500, but did not make it. He ended the season by filling in for injured Champ Car driver Alex Zanardi, posting one top-10 finish in four starts. Mears had five CART starts, with one top-5 finish, three IRL starts, with no top-5 finishes. Mears made his NASCAR debut in the Busch Series in 2001 at Homestead-Miami Speedway, driving the 66 car for Cicci-Welliver Racing, he finished 28th. When the team was sold to Wayne Jesel the next season, Mears drove for them full-time, finishing 21st in points with two top-ten finishes.
To the surprise of many, he was selected by Chip Ganassi Racing to drive the No. 41 Target Dodge in 2003. In his rookie season, he finished 35th after failing to finish in the top ten in any race. Throughout 2003, Mears drove a number of ARCA races for Ganassi, winning three times, once at Michigan, sweeping both Pocono races, he drove the No. 41 Cup car for two additional seasons, won two poles in 2004. Mears came close to quite a lot of victories during this period, he got passed with 12 laps to go and finished 4th. At Homestead in 2005, Mears controlled the final 100 laps of the Ford 400, but after a yellow flag erased his 28-second lead, Mears had to make a pit stop thus forfeiting the lead and with it, the win. During the 2005 season, it was announced Mears would move to a separate car for Ganassi with Home123 sponsorship, with the No. 41 to be piloted by Reed Sorenson. The Home123 sponsorship fell through and he instead moved to the No. 42 Texaco/Havoline Dodge for Ganassi, replacing the departing Jamie McMurray.
Mears started off 2006 with a then-best career finish of second, passing Ryan Newman at the line as Mears' future teammate Jimmie Johnson won the 2006 Daytona 500. On June 6, 2006, Mears announced that he was leaving Chip Ganassi Racing at the end of the season to join Hendrick Motorsports for the 2007 season, to replace the departing Brian Vickers. On July 8, he won his first NASCAR race, a Busch Series race at Chicagoland Speedway, coasting to the finish after running out of fuel. For the 2007 season, Mears assumed driving duties for the No. 25 Hendrick Chevrolet, with co-primary sponsorship from the National Guard of the United States and GMAC. On May 27, he won the Coca Cola 600 at Charlotte for his first career Nextel Cup victory. Once again, Mears secured the win with a fuel gamble, taking the lead with five laps remaining when most of the other lead lap cars stopped for fuel. Mears stretched his fuel to the finish. In 2008 Mears moved to the Alan Gustafson-led No. 5 Kellogg's/Carquest Chevrolet Impala driven by Kyle Busch.
After going winless, Mears was replaced by veteran Mark Martin. On August 23, 2008, Mears was announced as the driver of Richard Childress Racing's No. 07 Jack Daniel's Chevrolet Impala SS. The previous driver of the car, Clint Bowyer, would drive the team's new No. 33 General Mills Chevrolet Impala SS. In his first season at RCR, Mears notched 2 top ten finishes. After Mears struggled during the first seven races of the year, Richard Childress switched the crew chiefs for Harvick and Mears' cars, hoping for a better performance from the two drivers; the switch seemed to work for both parties. On October 21, 2009, it was announced Mears would be getting his 3rd crew chief of the season starting at Talladega. Todd Berrier would be moving to the No. 31 team in place of Scott Miller. Doug Randolph took over as the crew chief on the No. 07. This move was made because the future of the 07 was uncertain and Childress wanted to keep Berrier in the family. After the switch, Mears struggled with his new crew chief and had the best finish of 19th at Homestead.
Mears was released by Richard Childress Racing following the 2009 season. It was announced on January 2010, that Mears would drive the No. 90 Key Motorsports Chevrolet. Mears failed ending a starting streak of 252 consecutive races. Mears failed to qualify for Fontana, Las Vegas, Atlanta. After qualifying for Martinsville was rained out and the team did not qualify, Mears was released by the team. Following h
Team Penske is an American professional motorsports organization which has teams involved in open wheel, stock car, sports car racing. These teams compete in the NTT IndyCar Series. Debuting at the 1966 24 Hours of Daytona, the organization has competed in various other types of professional racing such as Can Am, Trans Am and Formula One. Altogether, Team Penske has earned over 500 victories in all of auto racing. Team Penske is a division of Penske Corporation, is owned and chaired by Roger Penske; the team president is Tim Cindric. Roger Penske has been involved with IndyCar racing since 1968, when his team first fielded a stock block-powered Eagle with Mark Donohue; the organization first competed at Indianapolis in 1969, within three years had become the team to beat, winning the race with Donohue in 1972. In 1978, Penske along with Pat Patrick, Dan Gurney, several other team owners, participating in USAC events involving cars known as Champ Cars and IndyCars formed Championship Auto Racing Teams.
As of June 27, 2018, Penske Racing has won the Indianapolis 500 17 times, won the Indianapolis 500 pole position 17 times, as well as 200 open wheel IndyCar wins in USAC, CART and IRL, 29 of which are in 500-Mile Races and 13 open wheel championships. Penske Racing has 1,463 starts in IndyCar races, 231 pole positions, 71 wins from pole, 47 double wins of which 8 are 1–2–3 finishes from the Pocono race on June 26, 1977, to January 1, 2015. In 2001, team Penske marked its return to the Indy 500 after a five-year absence due to the open wheel split, after the 1995 PPG IndyCar World Series season. In 2001 Roger Penske announced he would leave CART for the IRL IndyCar Series. Team Penske fields four cars: the No. 2 Verizon Dallara/Chevrolet for Josef Newgarden, the No. 3 Shell Oil Company Dallara/Chevrolet driven by Hélio Castroneves, the No. 12 Verizon Wireless Dallara/Chevrolet driven by Will Power, the No. 22 Penske Truck Rental Dallara/Chevrolet driven by Simon Pagenaud. Castroneves has won the Indianapolis 500 three times, as well as other CART and IRL races with Team Penske.
Sam Hornish Jr. is the 2006 Indianapolis 500 winner and the IndyCar Series Champion, with 16 IndyCar Wins. His 2001 and 2002 championships were with Panther Racing, prior to joining Team Penske. Juan Pablo Montoya is the 2015 Indianapolis 500 winner and the provisional leader in the championship with 2 wins in the season; the open-wheel racing portion of Penske Racing had been based in Reading, Pennsylvania since 1973 with the cars, during the Formula One and CART era, being constructed in Poole, England as well as being the base for the F1 team. On October 31, 2005, Penske Racing announced after the 2006 IRL season, they would consolidate IRL and NASCAR operations at the team's Mooresville North Carolina facility. Cigarette brand Marlboro had been a sponsor with Team Penske since the 1989 Indianapolis 500, primary sponsor of all Team Penske IndyCars since 1991. Late in 2005, Team Penske announced that Marlboro would not appear on the cars any longer in accordance with the Tobacco Master Settlement Agreement restricting cigarette advertising by name.
In 2007, the IndyCar Series cars began to carry "Team Penske" insignia and sponsorship from Mobil 1. For 2009, Verizon Wireless, joined Exxon Mobil as associate sponsors, the team was billed as Verizon Championship Racing; the third car was driven by Will Power a substitute for Castroneves, carried the No. 12 and featured primary sponsorship of both Verizon Wireless brand and Roger Penske's truck rental business. In 2010, Phillip Morris USA discontinued their relationship with Team Penske, ending a 19-year partnership; the team subsequently changed their livery to white, reflecting Verizon sponsorship. Team Penske became a three-car team for the first time since 1994, with the addition of a full-time team for Power. Roger Penske announced a switch to Chevrolet powerplants for the 2012 IndyCar Series season. Once again, Penske would dominate the early portion of the season, winning 4 consecutive races, with Castroneves taking the season opener at St. Petersburg, Power capturing wins at Barber, Long Beach, São Paulo.
Briscoe managed to find victory lane at Sonoma. However, Power would come up short in the championship after a crash at the season finale. Briscoe left the team after 2012 for other opportunities. In 2014, Will Power took the IndyCar Championship for Team Penske after 3 concurrent runner up finishes in 2010-2012; the 2015 season started well for Team Penske, Juan Pablo Montoya won the first race of the season, his second win for Penske since he arrived from NASCAR in 2014, with teammates Will Power, Helio Castroneves and Simon Pagenaud finishing 2nd, 4th and 5th. Power got a win at the Grand Prix of Indianapolis in the 5th race of the season and just 2 weeks the Colombian Montoya won Indy 500 leading again teammate Will Power. Juan Pablo Montoya would lose the championship in the final race on a tie-breaker to Scott Dixon. Team Penske would go on filling the top 3 positions in the final standings. Capping the season with a dominating race victory, Simon Pagen
Casey Lee Atwood is an American former stock car racing driver. A former competitor in NASCAR competition, he is the youngest pole winner in Busch Series history, earning a pole start at the age of 17. Atwood had his most success in the Busch Series in 1999 and 2000, driving the No. 27 Chevrolet for Brewco Motorsports. Atwood became the youngest winner in series history in 1999 at 313 days. Atwood's performance led many to label him as "the next Jeff Gordon," and landed him a factory-backed Dodge ride in the Winston Cup Series with Evernham Motorsports for 2001, his struggles at the Cup level over two seasons, derailed his career, with his last Cup start coming in 2003 at the young age of 22. After spending parts of seven seasons back in the Busch Series, Atwood's national series career ended in 2009. Growing up in Antioch, Tennessee outside of Nashville, Atwood became interested in racing at a young age. By the age of ten, Atwood was racing go-karts, he progressed to Late Model Stock racing by the age of 15.
He was the 1996 rookie of the year at Nashville Speedway USA. Casey attended John Overton High School in Nashville until he dropped out in 1999 to pursue his racing career. Atwood debuted in the NASCAR Busch Series in 1998 at North Carolina Speedway with a modest 21st-place finish, but stunned the racing world upon his next attempt. At his home track Nashville Speedway in March, the 17-year-old Atwood qualified on the pole position, making him the youngest pole winner in NASCAR history. A brilliant performance would follow, as Atwood led 104 laps and brought his No. 28 Red Line Oil Chevrolet home in 2nd place to Mike McLaughlin. Atwood made sporadic starts over the course of the year, none equal to his second race, but after moving from Larry Lockamy's part-time team to Hensley Racing in September, the driver had strong showings at Atlanta and Homestead. By the end of 1998 he had won five top 20s in 13 races. In 1999, he joined the Brewco Motorsports No. 27 Castrol GTX Chevrolet team for his first full season in the NASCAR Busch Series.
Atwood flipped during the first race of the season at Daytona International Speedway, after he was tapped by Andy Hillenburg coming to the white flag. Atwood became the youngest winner in Busch Series History when he won at the Milwaukee Mile at the age of 18 on July 4, 1999, which would stand until Joey Logano bested Atwood's mark by winning the Meijer 300 at Kentucky Speedway on June 14, 2008 at the age of 18 years and 21 days. Atwood scored two pole starts, he finished 1999 with five top 5s and nine top 10s. He finished 13th in points. 2000 proved to be another good year for Atwood, as he managed to have two poles and eight top 10s, finishing 8th in points. In 2000, Atwood made his Winston Cup debut in a No. 19 Motorola Ford for Ray Evernham at Richmond International Raceway. He finished 19th, two laps down, he earned his first top 10, a 10th at Homestead. Atwood moved up to NASCAR Winston Cup full-time in 2001 in the No. 19 Dodge Dealers car for Evernham's team Evernham Motorsports, a newly formed team under the Dodge banner, to compete for Rookie of the Year honors.
Atwood was the youngest driver in the series in 2001. He was nicknamed the "Next Jeff Gordon," due to Gordon's similar rise from Busch to Cup at a young age, was teammate to former Cup Champion, Bill Elliott. Atwood struggled through the year, but improved as the season went on, winning the pole at Phoenix and was in contention to win the race, while leading the race a flat tire slowed his day as he was only able to make it back to 14th place by the end of the race. A week at the season finale at Homestead, he was leading with five laps to go, but was passed by Elliott and Michael Waltrip. Atwood would place third, his career-best Cup finish. Atwood finished third in the Winston Cup Rookie of the Year standings, 26th in Cup standings. In 2002, with the signing of Jeremy Mayfield to drive the No. 19, Atwood moved from Evernham's team to the No. 7 of Ultra Motorsports as part of an alliance between Evernham and Ultra owner Jim Smith, where Smith's team would switch from Ford to Dodge and receive equipment and engines from Evernham.
The team was known as Ultra-Evernham Motorsports, sponsored by Sirius Satellite Radio. Atwood struggled throughout the year, having no top 10s, just one top-10 qualifying effort and finishing 35th in points. With two races left in the season, he was fired by Jim Smith and was replaced by Jason Leffler for the rest of 2002, Jimmy Spencer in 2003. Atwood ran the last race of the year in Evernham's No. 91 Dodge and qualified 12th, but finished poorly. During 2002, Atwood drove an Evernham ARCA car bearing his former No. 19 at Pocono and dominated, winning the race from the pole. In 2003, he drove Evernham's No. 91 development car for two races. At Pocono Raceway with sponsorship from Mountain Dew LiveWire, Atwood finished 40th after engine troubles, he ran in the Brickyard 400 without sponsorship, but was only able to muster a 31st-place finish. Atwood's most recent appearance in the series was a failed qualifying attempt in the No. 95 car for the 2006 Ford 400 at Homestead. He was driving a Brewco-prepared Scott Towels/Kleenex Ford for Stanton Barrett.
After his release from Evernham Motorsports in the Cup Series, Atwood was expected to return to Brewc
Robert W. Gordon is an American racecar driver, he has raced in CART, IndyCar, Trans-Am, IMSA, IROC and Dakar Rally. He competes in the Stadium Super Trucks series, a series that he had created in 2013. Gordon, the son of off-road racer "Baja Bob" Gordon, started out competing in off road racing, he won five consecutive SCORE International off-road class championships from 1986–1990, a sixth championship in 1996, a seventh championship in 2009. Gordon won two championships in the Mickey Thompson stadium series, three Baja 500 in 1989, 1990, 2005, three Baja 1000 in 1987, 1989, 2006. Gordon has continued off-road racing throughout his career in Champ Car and NASCAR. In 2005 Gordon took part in the famous 16-day Dakar Rally, driving for the Red Bull sponsored Volkswagen team, he became the first American to win a stage in the car division. He won two stages in a 12th place division finish. In 2006, Gordon took part in the Dakar Rally in a Hummer H3. Team Dakar USA did well until stage 9, when a damaged radiator caused late arrival at Atar and subsequent disqualification.
Gordon and co-driver Andy McMillin won the trophy truck class in the 2006 Baja 1000, finishing second overall in the race. After that, Gordon competed in his third Dakar Rally in 2007, driving the Monster Energy Hummer H3 for Team Dakar USA, he finished in his best finish in this race. His current trophy truck sponsor is Speed Energy and drove his Monster Energy truck in the 2007 Baja 500 with a second overall finish. Gordon's sisters Beccy Gordon and Robyn Gordon competed in the 2006 Baja 1000 on the all-woman team All-American Girl Racing. Gordon raced in selected Traxxas TORC Series events, including the 2010 AMSOIL Cup World Championship race at Crandon International Off-Road Raceway, he led the first lap of the race before retiring with mechanical difficulties. Gordon finished 3rd in the 2009 Dakar Rally in South America, where the event was moved after terrorist threats led to the cancellation of the 2008 event, he finished 8th in the 2010 Dakar Rally in South America with his Monster Energy truck.
He was excluded from the 2012 edition after stage 10 for illegal modifications of his engine. In June 2012, Gordon announced that he was founding and owning a stadium truck racing series of his own, titled the Stadium Super Trucks, based on the stadium truck racing concept developed by Mickey Thompson; the series ran its first season in 2013. A lot of drivers affiliated with Gordon's closed Cup Series NASCAR team such as P. J. Jones for example, followed Gordon to race in the Super Trucks. Gordon himself would be an owner-driver. Gordon won the inaugural Stadium Super Truck championship in 2013, by seven points following a year-long battle with former Mickey Thompson Off-Road teammate Rob MacCachren. Gordon's series was renamed to Speed Energy Formula Off-Road in 2014, he won a second championship that year with a 75-point advantage over Sheldon Creed. Since 2015, the series started expansion overseas, hosting a race in Australia at the Adelaide 500. In the year, Gordon participated in the Goodwood Festival of Speed in Britain.
In June 2017, the night following an SST race at Hidden Valley Raceway in Australia's Darwin, Northern Territory, Gordon took a truck to a local nightclub and began to perform donuts. A day he was summoned to court for violating the city's anti-hooning laws and was fined $4,150 after pleading guilty on four traffic charges. Gordon defended his action, stating he had asked security guards if it was allowed, to which they agreed; the Confederation of Australian Motor Sport subsequently revoked Gordon's competition visa for future events, indefinitely prohibiting him from racing in Australia. Four months Gordon issued an apology to CAMS and donated $10,000 to the Australian Road Safety Foundation, resulting in his visa ban being lifted. In 1990, Gordon began racing sports cars, he won races in both Trans-Am and IMSA Camel GT, where he had four consecutive class wins in the 24 Hours of Daytona from 1990–1994, three consecutive 12 Hours of Sebring class wins. Gordon’s first start in the CART IndyCar series came in 1992.
His first full season and Indy 500 start would come in 1993. He raced for Derrick Walker from 1994–96. With Walker, he captured his first career pole in 1994, both his CART career wins in 1995. For 1999, Gordon fielded his own team in the series with little success as the Toyota power the team used was still sub-par in performance. Gordon raced 10 times in the Indy 500 from 1993 to 2004 fielding his own team in 1999, 2000 and 2004. He, along with John Andretti, Tony Stewart, Kurt Busch are the only four drivers to race in the Coca-Cola 600 and Indy 500 in the same day. In 1999, Gordon came within one lap of winning the Indianapolis 500, he inherited the lead by virtue of not stopping for a final pit stop and tried to conserve enough fuel to last until the end of the race. His fuel ran out coming out of turn 3 on second last lap and he had to give up the lead to Sweden's Kenny Bräck. During his time in open-wheel, Gordon earned a reputation as a tough and sometimes overly aggressive racer. According to Gordon, his decision to leave open wheel was based on safety concerns.
Gordon made his debut in stock car racing in November 1990 at Atlanta Motor Speedway, driving for Junie Donlavey in the Automobile Racing Club of America season finale. Gordon's Winston Cup debut came in 1991, driving two races, including the Daytona 500 for Junie Donlavey in the No. 90 Ford. In 1993, Gordon drove the No. 28 Texaco-sponsored Ford for Robert Yates Racing at Talladega in the team's first race after the death of driver Davey Allison. In 1994
Kmart Corporation is an American big box department store chain headquartered in Hoffman Estates, United States. The company was incorporated in 1899 as S. S. Kresge Corporation and renamed to Kmart Corporation in 1977; the first store with the Kmart name opened in 1962. At its peak in 1994, Kmart operated 2,323 discount stores and Super Kmart Center locations in the United States. After declaring bankruptcy in 2002 and again in 2018, the chain's store count has been reduced to 202 locations. From 2005 through 2019, Kmart was a subsidiary of Sears Holdings Corporation and is now a subsidiary of Transform Holdco LLC. S. S. Kresge, the founder of the company that would become Kmart, met variety-store pioneer Frank Winfield Woolworth while working as a traveling salesman and selling to all 19 of Woolworth's stores at the time. In 1897 Kresge invested $6,700 saved from his job into a five-and-dime store in Tennessee, he jointly owned the first store with John McCrory. Kresge and McCrory added a second store in downtown Detroit the following year.
These were the first S. S. Kresge stores. After two years of partnership, he traded McCrory his share in the Memphis store, plus $3,000, for full ownership of the Detroit store, formed the Kresge & Wilson Company with his brother-in-law, Charles J. Wilson. In 1912, Kresge incorporated the S. S. Kresge Company in Delaware with eighty-five stores. In 1916, Kresge incorporated a new S. S. Kresge took over the operations of the original company; the company was first listed on the New York Stock Exchange on May 23, 1918. During World War I, Kresge experimented with raising the limit on prices in his stores to $1. By 1924, Kresge was worth $375 million and owned real estate of the approximate value of $100 million. Growth early in the 20th century remained brisk, with 257 stores in 1924, rising to 597 stores by 1929. Kresge retired as president in 1925; the Great Depression reduced profitability and resulted in store closings, with the number rising to 682 in 1940. After the war, shopping patterns changed and many customers moved out of the cities into the suburbs.
The Kresge Company closed and merged many urban stores. Under the leadership of executive Harry Cunningham, S. S. Kresge Company opened the first Kmart-named store on March 1, 1962, in Garden City, just four months before the first Walmart opened. Eighteen Kmart stores opened that year. Kmart Foods, a now-defunct chain of Kmart supermarkets, opened in that decade. Though the store chain continued to open Kmart branded stores, the store chain was still called S. S. Kresge Company. Company founder Kresge died on October 18, 1966. Around the time of the opening of the first Kmart, some poorly performing S. S. Kresge stores were converted to a new "Jupiter Discount Stores" brand, conceived as a bare-bones, deep discount outfit. During the 1970s, Kmart put a number of competing retailers out of business. Kresge and Kmart stores competed with other store chains like Zayre, Bradlees, Caldor and those that were operated by MMG-McCrory Stores. In 1977, S. S. Kresge Company changed its name to K Mart Corporation.
In 1980, Vice Chairman Bernard M. Fauber was elected as the CEO of Kmart. In 1981, the 2,000th Kmart store opened. By the end of 1981, there were 2,055 Kmart stores across the United States and Puerto Rico. In 1987, the Kmart Corporation sold its remaining 76 Kresge and Jupiter stores in the United States to McCrory Stores, the brands were entirely discontinued, although Canadian Kresge and Jupiter stores continued to operate until 1994. Kmart experimented with co-branding in 1985, when the in-store cafeteria at the store in Canton, was converted to a Wendy's; until November 1990, when it was passed by Walmart, Kmart was the second-largest retailer in the United States, after Sears. During the 1980s, the company's fortunes began to change. In the late 1980s and into the 1990s, the corporate office shifted much of its focus from the Kmart stores to other companies it had acquired or created, such as Sports Authority, Builders Square, Waldenbooks; the original Blue Light Special, first introduced in 1965, was retired in 1991.
The company brought back the Blue Light Special in 2001, but again discontinued it in 2002. The concept was revived in 2005, though Kmart at that time had no plans to use the concept long-term. Blue Light Specials were revived again in 2009 on Saturdays, offering surprise hour-long sales on selected merchandise, but were discontinued again. Blue Light Specials were revived once again in November 2015. In 1990, in an effort to update its image, Kmart introduced a new logo, it dropped the old-style italic "K" with a turquoise "mart" in favor of a red block letter K with the word "mart" written in script and contained inside the "K". Kmart began remodeling stores shortly thereafter; this logo was replaced in 2004 with the current logo. In 1990, Little Caesars Pizza Station opened its first in-store Kmart restaurant in Rochester, Michigan. Coincidentally, both Little Caesars and Kmart were founded in Garden City, Michigan, in 1959 and 1962 respectively. In 1995, Kmart tried to reinvent itself by using the short-lived name Today's Kmart.
In 1991, the company changes its pronunciation to Kmart Corporation. In 1992, Kmart entered the Eastern European market with the purchase of 13 stores in
Kevin Paul Lepage is a retired American professional stock car racing driver, who last drove in NASCAR in 2014. Lepage spent the 1980s driving in both the Busch North series and the Vermont-based American Canadian Tour series, he drove with occasional success in these series for the better part of 14 years. The highlight during this time was 3 victories at Vermont's Thunder Road International SpeedBowl in its famous "Milk Bowl" race in 1985, 1989 and 1993. Lepage made his Busch Series debut in 1986 at Oxford Plains Speedway, starting 41st and finishing 15th in the No. 09 Buick owned by Carl Merrill. He became a Busch Series regular in 1994, serving as an owner/driver in the No. 71 Vermont Teddy Bear Company car and running for Rookie of the Year honors. He had a best finish of 9th at New Hampshire International Speedway, in which he got a flat tire at the end of the race, finished 24th in points; the 1995 season resulted in five Top finishing 18th in points. At the end of the season, he lost his sponsorship and ran his own car in 1996 unsponsored until April.
Lepage joined David Ridling and his No. 88 Ridling Motorsports team with sponsorship from Ridling's own Farmer's Choice Fertilizer. He won his first career race at the season finale Jiffy Lube Miami 300 with Hype Energy sponsorship, he finished eighth in points with three Top 5s and 10 Top 10s. He ran most of the 1997 season driving for Ridling before leaving due to the team losing its sponsor. Lepage would finish out the year running for ST Motorsports, he finished 12th in points, posting six Top 10s. Lepage had his Cup debut by qualifying for the Fall Charlotte race in the No. 91 LJ Racing car in an impressive 12th. He would run the Fall Talladega and Atlanta races with finishes of 17th at Talladega and 29th at Atlanta. Lepage made the move to Winston Cup in 1998. Despite the team's lack of sponsorship, Lepage posted two fourteenth-place finishes, catching the eye of Jack Roush, owner of Roush Racing. Lepage announced his decision to depart LJ Racing in late June 1998 and sat out 6 races to work out the details of the new contract with Roush.
He would drive the #16 Primestar-sponsored Ford Taurus in place of Ted Musgrave, released after Lepage's hiring. He earned a pair of top-10 finishes in 13 races for Roush, his best finish being a sixth place at Charlotte. Despite missing several races, he nearly won the 1998 Rookie of the Year title. Lepage drove in the Busch Series for Doug Taylor's #40 team with a sponsorship from Channellock. Lepage finished 14th in points despite only starting 24 races out of 31. Lepage won his second career race at the August Food City 250 at Bristol and won his first career pole at the June MBNA Platinum 200 at Dover, he finished the year with six Top 5s and 10 Top 10s. Lepage returned in 1999 with sponsorship from Primestar which switched to TV Guide in April after Primestar was sold to the General Motors-owned DirectTV, he had one top 5, two top-tens and won the pole at the season-ending NAPA 500, earning him a 25th-place points finish. The highlight of the season was a 5th-place finish in the Southern 500 which qualified him for the Winston No Bull 5 at Talladega.
Lepage ran in the Busch Series driving the #99 J&J Racing/Brewco Motorsports car with a sponsorship from Red Man. He finished 35th in points with two Top 5s and six Top 10s, he began 2000 unsponsored, before picking up backing from FamilyClick.com. He failed to qualify twice and finished 28th in points with one Top 5 and three Top 10s with a best finish of 5th at Texas. At the end of the year, FamilyClick ended Roush closed the 16 team; that season Lepage restarted his #71 Busch team as Matrix Motorsports with sponsorship from Red Man, Southern Pride Chewing Tobacco and State Fair Corn Dogs. He finished 42nd in points with 10 starts, one Top 5 and two Top 10s with a best finish of 3rd at Atlanta. In 2001 Lepage returned to the Busch Series to run his own team, Matrix Motorsports, driving the #71 State Fair Corn Dogs/Ball Park Franks Ford. Running 15 races, he had four top-tens and a pole at Kansas Speedway. In addition to those races he drove for Phoenix Racing at Loudon, his team won the pole at Watkins Glen with Scott Pruett.
He returned to the Cup series, running the #4 Kodak Chevrolet for Morgan-McClure Motorsports, replacing Robby Gordon after five races. Lepage had a best finish of 11th in 21 races with them. Late in the season, he switched to the #7 Nations Rent Ultra Motorsports Ford, posting a tenth-place finish at Talladega Superspeedway. Despite missing seven races, Lepage ended up 36th in points. Early in 2002, Lepage's team went inactive due to a lack of sponsorship though he had an 8th at Daytona and a 4th at Las Vegas, he soon joined Brewco Motorsports. In 24 starts that year, he had two poles, finishing 25th in points, he ran three Cup races, two in the #38 Quest Motor Racing Ford, another for BAM Racing at Talladega in a car sponsored by Billy Ray Cyrus's show Doc. His best finish that year was a 40th at Loudon. In 2003, Lepage ran his own team at the Cup level for one race, finishing 32nd at the Coca-Cola 600 along with the Winston Open, he ran two races that year for CLR Racing, where he had a fourth place start at Michigan, before returning to Morgan-McClure to finish the year, his best finish a fourteenth at Atlanta.
He teamed with Morgan-McClure again in 2004, but after six races, Lepage departed due to a lack of sponsorship. He signed with Competitive Edge Motorsports, posting a best finish of 41st twice, before leaving the team, he ended the season with R&J Racing, where he had a best