F.W. Woolworth

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F.W. Woolworth

An American businessman who founded one of the first five-and-dime stores, in which all items were sold for five and ten cents. This company, Woolworth's, began in 1879 on a $300 loan and made Woolworth into a multi-millionaire. In order to pay for the discounts he offered customers, he purchased goods directly from manufacturers. He also fixed prices for consumers, which was uncommon at the time. Woolworth lived from 1852 to 1919. See also: Sam Walton.
References in periodicals archive ?
Trading as FW Woolworth & Co, the first British store opened in Liverpool in 1909.
Still in the 60s and Woollies was still going strong back then and outside FW Woolworth in Kirkby, mothers with prams hovered outside for a natter, while enjoying the chance to get ready for their holidays or get the kids out and about with a spot of shopping.
1879: FW Woolworth opened his first store in |Utica, New York, which later failed and closed in May 1880.
M Willock, Rushall THIS picture shows the FW Woolworth store in what was then Spiceal Street and Bull Ring.
1879: FW Woolworth opened his first store in Utica, New York, which later failed and closed in May 1880.
Planning documents submitted by 3d Architects, on behalf of Primark, describe how the building became home to FW Woolworth in 1913, with a shop front common to many of the properties in the area.
THERE'S TROUBLE IN STORE: Even two of the biggest high street names in Britain couldn't survive the devastating effects of the economic downturn; FOUNDER: FW Woolworth
A year later it was bought by FW Woolworth making David Quayle a millionaire four times over.
Lynn has over 29 years of retail experience, including positions as Chief Executive Officer of FW Woolworth Co, Chief Operating Officer of American Eagle Outfitters, and President, Chief Operating Officer and Chief Merchandising Officer of Bradlees, Inc.
During his 4 1/2 years at Venator, Farah served as CEO and oversaw a major restructuring, which included closing the FW Woolworth chain in 1997.
The caricature of FW Woolworth has him counting the coins he used to pay in cash for the building.
So said FW Woolworth, founder of the eponymous chain of stores that made it easy for the customer to buy through offering clear pricing and sharp value, attributes that today's generation of retailers would do well to remember, as we head into what could be the most competitive trading period in retail history.