S. S. Kresge stores; one was in downtown Detroit, Michigan, for which he traded ownership in McCrory's. In 1912, he incorporated the S.S. Kresge Company with 85 stores. 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. In 1923, he started a new company, buying out a large traditional department store in Newark, New Jersey. He renamed the store Kresge-Newark, expanded it, and started branch stores. The new department store company was completely independent from the S.S. Kresge discount department
Farmer Jack were converted into A&P's Food Basics format in an attempt to compete with discount chains such as Save-A-Lot. Less than a year later, nine were closed while the other—a new-build store in Dearborn Heights—was converted into a Farmer Jack. Simultaneously, the closure of 15 Farmer Jacks was announced; four more closures were announced later in the year. In early 2005, A&P placed Farmer Jack for sale, seeking an estimated $250M for 71 core stores; the remaining locations were offered individually. Later that year, workers approved wage cuts conditional on a sale to Spartan Stores—which was led by several former Farmer