(Business 2.0) – It was a watershed year in the history of retailing. In 1962 a trio of upstarts began to take on traditional department stores. The newcomers had one idea in common: selling nationally advertised brands at lower prices. Today, of course, Wal-Mart and Target are thriving, even as Kmart struggles to emerge from bankruptcy. These new books reveal how the destinies of the chains diverged. --STEVEN POWERS

The Wal-Mart Decade, by Robert Slater (Portfolio, June 2003)

FIRST STORE OPENED: Rogers, AR; July 1962

FOUNDING VISION: Slash profit margins to the bone, make up the difference in volume.

GROWTH STRATEGY: Slow expansion, sharp focus, aggressive use of technology.

TIPPING POINT: In 1970, Sam Walton took the company public, which erased its debt and allowed it to accelerate growth. By 1989, Wal-Mart had 1,402 stores and annual sales of $25.8 billion.

On Target, by Laura Rowley (Wiley, April 2003)

FIRST STORE OPENED: Roseville, MN; May 1962

FOUNDING VISION: Five scions of department store chain Dayton's set out to create a discount retailer with a strong sense of style.

GROWTH STRATEGY: Accent stores in bright, cheerful red while emphasizing product quality and truthful advertising.

TIPPING POINT: In 1973, instead of moving to the burbs, Target decided to keep its HQ in Minneapolis to stay in touch with fashion-conscious urbanites.

Kmart's 10 Deadly Sins, by Marcia Layton Turner (Wiley, August 2003)

FIRST STORE OPENED: Garden City, MI; March 1962

FOUNDING VISION: S.S. Kresge five-and-dime chain rolls out discount stores in suburban strip malls.

GROWTH STRATEGY: Opening 417 stores in its first eight years, Kmart's primary objective was expansion.

TIPPING POINT: Having neglected existing stores in favor of opening new ones, execs revive BlueLight Specials (and ill-advised price wars) in 2001.