McCrory Stores his last name so he would not have to pay for extra letters on his store signs. McCrory died in 1923 having built McCrory Stores Corporation into a success. However, in 1933 the company declared bankruptcy and was dissolved, but it was eventually re-established as McCrory Stores and resumed operations. One of the early investors was Sebastian Spering Kresge, who later founded the S.S. Kresge chain, which became Kmart. In 1899, Kresge traded his interest in the McCrory's Memphis, Tennessee store for McCrory's interest in the Detroit, Michigan, store, giving him control there. In 1987, the Kmart Corporation sold its
Discount store goods at a single price-point or multiples thereof (£1, $2, etc.). Discount stores differ from variety stores in that they sell many name-brand products, and because of the wide price range of the items offered. After World War II, a number of retail establishments in the U.S. began to pursue a high-volume, low-profit-margin strategy designed to attract price-conscious consumers. This strategy has received renewed interest from retailers and customers alike stemming from the Great Recession that began in 2007 that forced buyers to revisit the approach to the products they wanted. Currently Aldi, the largest retailer in the world (Planet