Fw woolworth biography of william

Retail company

This article is about the company now known as Foot Locker. For companies, related or not, that are similarly named, see Woolworth.

The Woolworth Building, Fresh York City, c.
Trade name	Woolworth's or Woolworth & Co
Company type	Public
Traded as	NYSE:&#;Z (–)
Industry	Retail
Founded	February&#;22, ; years ago&#;(), in Utica, New York, U.S.
Founder	Frank Winfield Woolworth
Defunct	July&#;17, ; 27 years ago&#;() (said division only)
Fate	Department stores closed. Name changed in to Venator Group, and in to Foot Locker
Successor	Foot Locker (–present)
Headquarters	Woolworth Building, Manhattan, New York City, U.S.
Key people	F.W. Woolworth (CEO & president) Charles Woolworth (chairman)
Products	Clothing, footwear, bedding, furniture, jewelry, beauty products, consumer electronics and housewares
Parent	Woolworth Corporation, LLC.
Subsidiaries	Woolworths Group F. W. Woolworth Ireland Woolworth Canada Woolworth GmbH Woolworth Mexicana Kinney Shoe Company Woolco (defunct) Woolworth Athletic Group Richman Brothers

The F. W. Woolworth Company (often referred to as Woolworth's or simply Woolworth) was a retail company and one of the pioneers of the five-and-dime store.

It was among the most successful American and international five-and-dime businesses, setting trends and creating the modern retail model that stores follow worldwide today.

The first Woolworth store was opened by Frank Winfield Woolworth on February 22, , as "Woolworth's Great Five Cent Store" in Utica, New York.

Though it initially appeared to be flourishing, the store soon failed.^{[page&#;needed]} When Woolworth searched for a recent location, a friend suggested Lancaster, Pennsylvania. Using the sign from the Utica store, Woolworth opened his first successful "Woolworth's Wonderful Five Cent Store" on June 21, , in Lancaster.

He brought his brother, Charles Sumner Woolworth, into the business.

The two Woolworth brothers pioneered and developed merchandising, direct purchasing, sales, and customer service practices commonly used today. Despite its growing to be one of the largest retail chains in the world through most of the 20th century, increased competition led to its decline beginning in the s apart from the company's growing sporting goods division.

The chain went out of business in July , when the company decided to emphasis primarily on sporting goods and renamed itself Venator Group. By , the company focused exclusively on the sporting goods market, changing its name to the current Foot Locker, Inc., transforming its ticker symbol from its familiar Z in to its present ticker (NYSE:&#;FL).

Retail chains using the Woolworth name survived in Austria, Germany, Mexico and the United Kingdom as of early The similarly named Woolworths supermarkets in Australia and Modern Zealand are operated by Australia's largest retail company, Woolworths Collective, a separate company with no historical links to the F.

W. Woolworth Company or Foot Locker, Inc.; it did, however, take the name from the original company, as it had not been registered or trademarked in Australia at the time.^[2] Similarly, in South Africa, Woolworths Holdings Limited operates a Marks & Spencer-like store and uses the Woolworth name, but has never had any connection with the American company.

The property development company Woolworth Group in Cyprus began life as an offshoot of the British Woolworth's company, originally operating Woolworth's department stores in Cyprus. In , these stores were rebranded Debenhams, but the commercial property arm of the business retained the Woolworth's name.

History

Origin

The F.W. Woolworth Co. had the first five-and-dime stores, which sold discounted general merchandise and fixed price, usually five or ten cents, undercutting the prices of other local merchants.

Woolworth, as the stores popularly became known, was one of the first American retailers to put merchandise out for the shopping public to treat and select without the assistance of a sales clerk. Earlier retailers had kept all merchandise behind a counter and customers presented the clerk with a list of items they wished to buy.^[3]

After working in Augsbury and Moore dry goods store in Watertown, New York, Frank Winfield Woolworth obtained credit from his former boss, William Moore, along with some savings, to buy merchandise and open the "Woolworth's Great Five Cent Store" in Utica, New York, on February 22, ^{[page&#;needed]} The store failed and closed in May , after Woolworth earned enough money to pay back William Moore.

Woolworth soon made a second attempt, and opened his "Woolworth's Great Five Cent Store", using the same sign, on June 21, , in Lancaster, Pennsylvania.

Lancaster proved a achievement, and Woolworth opened a second store in Harrisburg, Pennsylvania in , with his brother Charles Sumner Woolworth as manager.

The Harrisburg store closed after a falling-out with the landlord; their next store, in York, Pennsylvania, likewise closed after only three months of operation. Finally, the "5¢ Woolworth Bro's Store" opened in Scranton, Pennsylvania on November 6, , with Charles as manager.

At this location, the "5¢ & 10¢" merchandising model was fully developed, and the store proved a success. Charles bought out Frank's share of the Scranton store in two installments, in January and , making him the company's first franchisee.^[4][5][6][7]

In , Charles partnered with his longtime friend, wholesaler Fred Morgan Kirby, on a location in Wilkes-Barre, Pennsylvania, which they called "Woolworth and Kirby".

This location, too, was successful, and the brothers continued persuading family members and other associates to join them in forming a "friendly rival syndicate" of five-and-ten-cent stores. Each of the syndicate chain's stores looked similar inside and out, but operated under its founder's name.

Frank Woolworth provided much of the merchandise, encouraging the rivals to club together to maximize their inventory and purchasing power.^{[page&#;needed]}

Rise and expansion

By , the syndicate had six chains of affiliated stores operating in the United States and Canada, which began incorporating separately during the next few years.

In , however, all stores merged into one corporate organization under the name "F. W. Woolworth Company". Frank Woolworth served as president; Charles Woolworth, Fred Kirby, Seymour H. Knox I, Earle Charlton, and William Moore each became a director and vice president.

In , Frank Woolworth bought up adjoining properties in a low-rent area of Lancaster. On the newly acquired land, he had a building erected with five floors of offices above a large store, as well as a garden and open-air theater, which soon became the city's social center.^{[citation needed]}

In , Frank Woolworth commissioned the design and construction of the Woolworth Building in Modern York City.

A pioneering first skyscraper, it was designed by American architect Cass Gilbert, a graduate of the MIT architecture school.^[9] The building was paid for entirely in cash. It was completed in and was the tallest building in the world until It also served as the company's headquarters until the F.W.

Woolworth Company's successor, the Venator Group (now Foot Locker), sold it in

After Frank Woolworth's death, his brother Charles took on the role of chairman of the board, and the company's treasurer Hubert T.

Parson took over the presidency.

In the company reported $ million in sales, in $ million.^[10]

For many years the company did a strictly "five-and-ten cent" business, but in the spring of it added a cent line of merchandise.

On November 13, , the company's directors decided to discontinue selling-price limits altogether.^[11]

The stores eventually incorporated lunch counters after the accomplishment of the counters in the first store in the UK in Liverpool.

These counters served as general gathering places, a precursor to the modern shopping mall food court. A Woolworth's lunch counter in Greensboro, North Carolina became the setting for the Greensboro sit-ins, protesting the company's racial segregation policies in the South, a key event of the Civil Rights Movement.

The Woolworth's concept was widely imitated, and five-and-ten-cent stores (also known as five-and-dime stores or dimestores) became a 20th-century fixture in American downtowns. They would serve as anchors for suburban shopping plazas and shopping malls in the s, s, and s.

Criticisms that five-and-dime stores drove local merchants out of business would repeat themselves in the early 21st century, when big-box discount stores became trendy .

Diversification

In the s, the five-and-dime concept evolved into the larger discount department store format.

In , Woolworth's founded a chain of large, single-floor discount stores called Woolco. In that alike year, Woolworth's competitors opened similar retail chains that sold merchandise at a discount: the S.S. Kresge Company opened Kmart, Dayton's opened Target, and Sam Walton opened his first Wal-Mart store.

The following year, in , Woolworth expanded into the shoe store business with the purchase of Kinney Shoe Corporation, which led to the founding of the sporting goods store Foot Locker in ; the business would specialise in sporting goods and exclusively focus on sporting goods by

By Woolworth's th anniversary in , it had become the largest department store chain in the world, according to the Guinness Book of World Records.

During the s, the company began expansion into many different specialty store formats, including Afterthoughts (which sold jewelry and other accessories for women),^[12] Northern Reflections (which sold cold-weather outerwear),^[12] Rx Place (later sold to Phar-Mor), and Champs Sports.

By , the company was pursuing an aggressive strategy of multiple specialty store formats targeted at enclosed shopping malls. The idea was that if a particular concept failed at a given mall, the company could quickly replace it with a different concept.

The company aimed for ten stores in each of the country's major shopping malls, but this never came to pass, as Woolworth never developed that many successful specialty store formats.

Also attempted was a revision of the classic Woolworth store model into Woolworth Express, a small, mall-oriented variant which was dubbed "a specialty variety store'', stocked with everyday convenience items such as health and beauty aids, greeting cards, snack foods, cleaning supplies and school supplies (somewhat like the non-pharmacy, mall-based locations of CVS/pharmacy and other drug store chains).^[13]

Decline

The growth and expansion of the company contributed to its downfall.

The Woolworth company moved away from its five-and-dime roots and placed less emphasis on its department store chain as it focused on its specialty stores.

The soldier had married Fanny McBrier on his return in and had scraped together the deposit to buy a little farm. His brother, christened Charles Sumnerwas born on 1 August, His parents hoped that one day their sons would grab over the farm. As they grew up the boys were expected to help out with the milking before school and picking potatoes by hand in the evening.

Still, the business was unable to compete with other chains that had eroded its market share.

While it was a success in Canada, the Woolco chain closed in the United States in Europe's largest F. W. Woolworth store, in Manchester, England (one of two in the city centre), suffered a fire in May Despite the store being rebuilt even larger and up to the latest fire codes, the negative stories in the pressurize and loss of lives in the fire sealed its fate; it ultimately closed in During the rebuilding and partly as a result of the poor press, the British operation was separated from the parent firm as Woolworths plc.

This proved fortuitous, as the brand subsequently lasted a full twelve years longer in the United Kingdom than it did in the United States.

On October 15, , Woolworth's embarked on a restructuring plan that included closing half of its plus general merchandise stores in the Combined States and converting its Canadian stores to a closeout division named The Bargain!

Shop. Woolco and Woolworth survived in Canada until , when the organization sold the majority of the Woolco stores to Wal-Mart. The Woolco stores that Wal-Mart did not purchase were either converted to The Bargain! Shop, sold to Zellers or closed permanently.

Approximately Woolworth stores in Canada were rebranded as The Bargain! Shop, and the remainder closed.

Transition

Amid the decline of the signature stores, Woolworth began focusing on the sale of athletic goods. On January 30, , the company acquired the mail order catalog athletic retailer Eastbay.

On March 17, , Wal-Mart replaced Woolworth's as a component of the Dow Jones Industrial Average.^[14] Analysts at the moment cited the lower prices of the large discount stores and the expansion of supermarket grocery stores – which had begun to stock merchandise also sold by five-and-dime stores – as contributors to Woolworth's decline in the late 20th century.

He was hand picked for the role by Frank Woolworth as the kind of Englishman he would like on his team. He successfully anglicised the five-and-ten formula and helped the British "infant" to outgrow its parent within just twenty years. Initially Stephenson was the only British Director. He headed up Operations and Buying at the outset.

Venator

On July 17, , Woolworth's announced that it would be closing its remaining department stores in the United States.^[15] The company also changed its corporate name to Venator.

In , Venator moved from the Woolworth Building in New York Capital to offices on 34th Highway.

On October 20, , the company changed names again; taking the name of its foremost retail performer and became Foot Locker, Inc., which Woolworth started in under Kinney Shoes.

Foot Locker, Inc., is the legal continuation of the original Woolworth; it retains Woolworth's pre stock price history.

As part of celebrating F. W. Woolworth's centennial on the New York Stock Exchange on June 26, , a news release featured Woolworth's store and a Foot Locker store.^[16]

Influence on popular culture

• Woolworth was the pioneer of "five-and-dime"-style retailing.^[17]
• In , Woolworth first sold manufactured Christmas tree ornaments, which proved extremely popular.^[18]
• In , in Atlantic City, New Jersey, Sam Foster (founder of Foster Grant eyewear) sold sunglasses from his counter in Woolworth's on the city's famous boardwalk, which became a great hit with the sunbathing public.^[19]
• Paul Terry, founder of the Terrytoons Cartoon Studio, once said "Let Walt Disney be the Tiffany's, I want to be the Woolworth's".
• On February 1, , four African-American students from North Carolina Agricultural and Technical Articulate University (NC A&T) started the Greensboro sit-ins at a "whites only" lunch counter in the Greensboro, North Carolina store.

  (The store is now a museum.)

• On February 27, , in Nashville, Tennessee, an integrated student-led movement from nearby black colleges, including Fisk University, American Baptist College, and Tennessee A&I (now Tennessee State), drew more than protestors to the lunch counters at Woolworth, Kress, McClellan, and Walgreens across the street, resulting in national media attention after the students' nonviolent tactics were met with violent backlash from colorless citizens.

  Among the protestors arrested was future US Congressman John Lewis, who participated in the sit-in at the lunch counter at Woolworth. The building functioned as a diner, Woolworth's on Fifth, for several years after the original store's closing and is now being converted into an entertainment theater.^[20]

• On May 28, , 14 activists – including Tougaloo College chaplain, Reverend Ed King and professors John Salter Jr.

  and Lois Chaffee (who were white), and students Pearlena Lewis, Anne Moody (who later published Coming of Age in Mississippi), and Memphis Norman (who were black), and Joan Trumpauer (who was white) – protested Jim Crow segregation via a sit-in at Woolworth's "whites only" lunch counter in Jackson, Mississippi.^[22] Bill Minor, then the Mississippi correspondent covering civil rights events for the New Orleans Times-Picayune and who was there that day, says the Jackson Woolworth's sit-in was "the signature event of the protest movement in Jackson.

  The first one there was with real violence." The following year, the Civil Rights Act of was passed into law.^[23]

• In , David Bowie memorably called his look, "a cross between Nijinsky and Woolworth's."^[24]
• On folk singer Nanci Griffith's live album, One Fair Summer Evening, the song "Love at the Five and Dime" includes an extended introduction that reminisces about Woolworth stores.
• A memorable scene in the Coen brothers' film O Brother, Where Art Thou?, set in rural Mississippi in , entails George Clooney's character being physically thrown out of an F.W.

  Woolworth Co. store and admonished by the manager, "And endure out o' the Woolsworth!"^[25][26]

• Following Woolworth's dissolution, a Woolworth's building remained in operation (albeit as an antique store) in Bakersfield, California, and included a diner with similar offerings of the former brand.

  Both the store and diner closed indefinitely in for renovations following a sale of the building; as of , there is no set re-open date.^{[27][non-primary source needed][28][29]}

• The 2nd season of The Red Green Show featured a character named Murray Woolworth, played by Ed Sahely, who ran a variety store called Murray's Variety, where he always sold useless junk and faulty inventions and devices, enforced a strict "no return-no refunds-no exchange" policy, and was constantly scheming ways to cheat Lodge members out of their funds as a result of his shady and unethical business practices.

Greensboro, and other, sit-ins

Main article: Greensboro sit-ins

On February 1, , four black students sat down at a segregatedlunch counter in a Greensboro, North Carolina, Woolworth's store.

They were refused service, touching off six months of sit-ins and economic boycotts that became a landmark event in the civil rights movement.

fw woolworth biography of william4: Biography of William Lawrence Stephenson (), nicknamed 'the British Mr Woolworth', who established Woolworth's as Britain's most successful retailer.

In , an eight-foot section of the lunch counter was moved to the Smithsonian Institution and the store site now contains a civil rights museum, which had its grand opening on Monday, February 1, , the 50th anniversary of the beginning of the sit-ins.^[30]

Imitation sit-ins also occurred in other cities where there were segregated lunch counters at Woolworth's.

In Roanoke, Virginia on August 27, , two women and a boy "sat at the lunch counter and ordered a slice of pie, a soda and a sundae, all under the watchful eyes of the biracial committee which had organized the event." The names of the three black customers were not reported at the age, and are now unknown.

While the incident was uneventful, other sit-ins were completed, also without incident, at 17 other segregated lunch counters in Roanoke.^[31]

There were at least 3 sit-ins in Florida Woolworth's locations; two in March , in Tampa^[32] and Sarasota, and in July in St.

Augustine, Florida.^[34]

In later years the chairman rather than the president was frequently the chief executive officer. Gibbons (–) succeeded Burcham (–) as chairman-CEO in and died in office, succeeded by vice chairman John W.

Lynn (–) who was succeeded in by president (since , replacing Richard L. Anderson (d. )) Harold Sells. Farah joined the company as chairman and CEO in December and Hennig was replaced by Dale W. Hilpert as president in May That changed after the company's transition into a sporting goods firm.

Non-American retail users of the Woolworth name

See also: Woolworth (disambiguation)

Former F.W. Woolworth subsidiaries

Currently in business

Defunct

• Woolworth Canada was the Canadian unit of F.W.

  Woolworth founded in the s and based in North York, Ontario.^[43] In addition to the Woolworth stores, other banners of Woolworth Canada included Woolco, The Bargain! Shop, Kinney, Foot Locker, Northern Reflections, Northern Getaway, Northern Traditions, Silk & Satin and Randy River.^[44] The division continued to be called Woolworth Canada even after the last stores under the Woolworth nameplate disappeared from Canada in Woolworth Canada was eventually renamed Venator Group Canada in and finally Foot Locker Canada in ^[45]

• Woolworths (United Kingdom) originally was the British unit of F.W.

  Woolworth, but operated independently as a separate company from , running stores in the UK, Isle of Man, Jersey and Guernsey. It also had interests in other UK retailers, such as B&Q, Comet, Superdrug and Screwfix as part of the Kingfisher group.

  On November 26, , Woolworths Group plc announced that they were in too much debt to maintain their outgoing payments. The remaining British Woolworths stores closed by January 6, , with the decrease of almost 30, jobs.^[46]Shop Manage Group purchased the UK Woolworths and operated it as an online entity until , the defunct UK brand is now owned by Woolworth Deutschland.^[47]

Others

• Woolworths Team is the largest retail company in Australia, operating a variety of supermarket and other retail chains in Australia and Modern Zealand including Woolworths Supermarkets.

  The name "Woolworths" was legally taken to capitalize on the F.W. Woolworth name since they did not do business in Australia, and had not registered the trademark there, but is in no other way connected to the U.S.

  or U.K. Woolworths.^[48]

• Woolworths is an upmarket retail chain in South Africa selling goods of a comparable nature to Marks & Spencer stores in the United Kingdom. The South African company also operates stores in Botswana, Eswatini, Ghana, Kenya, Lesotho, Mauritius, Mozambique, Namibia and Tanzania, they previously operated stores in Bahrain, Nigeria, Oman, Qatar, Uganda, United Arab Emirates, Zambia, and Zimbabwe.^[49]
• Woolworth's on Prince William-Henry Street in Bridgetown, Barbados operates independently, having split from the British branch in ^[50] It was established in the s, stocking goods shipped from Britain.

See also

References

Works cited