Discount store older store concepts. As examples, Woolworth opened a Woolco chain (also in 1962); Montgomery Ward opened Jefferson Ward; Chicago-based Jewel launched Turn Style; and Central Indiana-based L. S. Ayres created Ayr-Way. J. C. Penney opened discount stores called Treasure Island or The Treasury, and Atlanta-based Rich's owned discount stores called Richway. During the late 1970s and the 1980s, these chains typically were either shut down or sold to a larger competitor. Kmart and Target themselves are examples of adjuncts, although their growth prompted their respective parent companies to abandon their older concepts (the S. S. Kresge five and dime store
Kresge-Newark Kresge-Newark Kresge-Newark was an upper-middle market department store based in Newark, New Jersey. The firm was started in the 1920s when its founder Sebastian Kresge purchased the L.S. Plaut Department store in downtown Newark and rebranded the business Kresge-Newark. This store had no management connection to the S.S. Kresge 5 & 10 chain based in Detroit, Michigan. In 1926, Kresge replaced the original Plaut store, nicknamed "The Bee Hive," which had been built in 1891, with a larger flagship store that occupied the entire city block, between Broad and Halsey streets, and Cedar Street and Raymond Boulevard. It contained more