Remember when you were growing up, every Christmas you would get Christmas catalogs and one of them would probably be the Woolworth’s Christmas Book. It was so much fun to look at all the toys, gadgets and other Christmas items. Enjoy a trip down memory lane!
The founder of the F. W. Woolworth Company was Frank Winfield Woolworth (April 13, 1852 – April 8, 1919). He operated discount stores known as “Five-and-Dimes.” They featured a selection of merchandise priced at five and ten cents. He was the pioneer of the now-common business practice of buying merchandise direct from the manufacturers and determining the prices of items rather than bartering with the manufacturer on price. He used self-service display cases so the customers could examine that they wanted to buy without the help of a salesclerk.
It’s not quite certain how Woolworth was introduced to the “five-cent counter concept.” No matter how it was brought about, this concept became the most profound key to Woolworth’s success. This changed not only his life, but retailing as well.
At the time of his death, Woolworth was worth approximately $6.5 million which was a lot of money in 1919! His company owned more than 1,000 stores in the U. S. and other countries. In 1913, Woolworth built the Woolworth Building in New York City at a cost of $13.5 million in cash.
There are still divisions and namesakes of Woolworth’s throughout the world. Some of the companies in the U.S. you will recognize: Foot Locker, Champs Sports, Eastbay, Northern Reflections, and the San Francisco Music Box Company.
Woolworth’s Christmas Book – What a Fun Time!!