frank winfield woolworth

Video: frank winfield woolworth

      Frank Winfield Woolworth GudangMovies21 Rebahinxxi LK21

      Frank Winfield Woolworth (April 13, 1852 – April 8, 1919) was an American entrepreneur, the founder of F. W. Woolworth Company, and the operator of variety stores known as "Five-and-Dimes" (5- and 10-cent stores or dime stores) which featured a selection of low-priced merchandise. He pioneered the now-common practices of buying merchandise directly from manufacturers and fixing the selling prices on items, rather than haggling. He was also the first to use self-service display cases, so that customers could examine what they wanted to buy without the help of a sales clerk.


      Early life


      Woolworth was born in Rodman, New York to John (1821–1907) and Fanny (née McBrier; 1832–1878) Woolworth; his brother was entrepreneur Charles Sumner Woolworth (1856–1947). His parents were devout Methodists and sympathetic to the Northern side during the Civil War, and they raised their sons in those beliefs. His paternal ancestors were English farmers who left England around 1665 settling in the Massachusetts Bay Colony area. Meanwhile, his mother's parents, the McBriers, were Scots-Irish from County Down, Ulster, who had come to the United States in 1827.
      At age four, Woolworth told his parents that he would become a peddler like those who sometimes came calling. He and Charles would play "store", and Frank would set up merchandise to sell to his brother. Woolworth finished his schooling at age 16, yet he was unfit to begin working in any legitimate store with only basic knowledge and no experience. He applied to many shops in the area, every time being rejected. He attended a business college for two terms in Watertown, New York, with a loan from his mother.


      Career



      In 1873, Woolworth worked as a stock boy in a general store called Augsbury & Moore's Drygoods in Watertown, and his experiences there served as the starting point to his own business venture and innovations. He was considered to be an inept salesman and was given jobs such as washing the windows, where he found a creative niche arranging the store's front display; his work was so impressive that his boss assigned him that role. Typical business practices of the day was that a few of each type of item be displayed on a counter if small and behind if not. Clerks were responsible for obtaining what the customer wanted and making the transaction. From exposure to this Woolworth developed the notion that goods should sell themselves, something which became increasingly prominent in his retail career.

      Under the employment of Moore & Smith, Woolworth had an opportunity to sell a large surplus of goods. He organized a store in Great Bend that opened on February 10, 1878, but sales were disappointing; the store failed in May. Accounts differ on the genesis of the five-and-dime concept. Gail Fenske suggests that Woolworth had heard of a "five-cent counter craze" while questioning his own sales ability at his first job. Jean Maddern Pitrone suggests that the idea was conceived after a travelling salesman told Woolworth of stores in Michigan with five-cent counters. Plunkett-Powell suggests that Woolworth overheard the concept during a discussion between William Moore and a young man who had opened his own cut-rate goods store.

      Woolworth borrowed $300 (~$10,124 in 2024) and opened a five-cent store in Utica, New York, on February 22, 1879. It failed within weeks. He opened his second store in April 1879 in Lancaster, Pennsylvania, where he expanded the concept to include merchandise priced at ten cents. By 1889, Woolworth had twelve thriving stores and in ten years, from 1879 to 1889, his sales had increased by 240%. By 1900, Woolworth's chain had grown to fifty-nine stores, with sales of over $5 million (~$151 million in 2023). Woolworth's desire for control stretched further than just the bounds of his company. Wanting to implement his ideas on a much larger scale, F. W. adopted a policy of acquiring smaller chains of his competitors. This policy, combined with “the development of the five and ten cent idea, the exploitation of the idea through a chain, [and] the squeezing out of his middleman competitors for the purpose of controlling goods manufacturing and distribution” resulted in the dominance of the low-priced segment of the American retailing industry.
      In 1911, the F. W. Woolworth Company was incorporated with 586 stores. In 1913, Woolworth built the Woolworth Building in New York City at a cost of $13.5 million (~$306 million in 2023) in cash. At the time, it was the tallest building in the world at 792 feet.
      Woolworth often made unannounced visits to his stores, where he would shoplift items to test the staff's attentiveness. Managers or clerks who caught him doing so were sometimes rewarded with promotions.


      Personal life


      On June 11, 1876, Woolworth married Jennie Creighton (1853–1924). They were the parents of Helena Maud Woolworth McCann (1878–1938), Jessie May Woolworth Donahue (1886–1971), and Edna Woolworth Hutton (1883–1917), who died from suffocation due to mastoiditis. Rumors have persisted that she died by suicide. She was the mother of Barbara Hutton. Frank and Jennie's marriage was a happy one and Jennie regretted the demands that financial success put on Frank's time with her. By 1916 she displayed the symptoms of advanced dementia.


      Death



      Woolworth died of septic shock from an infected tooth on April 8, 1919, 5 days before his 67th birthday. At the time of his death, Woolworth was worth approximately $76.5 million or the equivalent of 1⁄1214th of the US GNP. His company owned more than 1,000 stores in the United States and other countries and was a $65 million ($804,328,215 in 2009 dollars) corporation. He died without signing his newest will, so his mentally handicapped wife received the entire estate under the provision of his older 1889 will. When she died in 1924, her estate was worth $57.5 million.
      Woolworth is interred in the Woodlawn Cemetery in the Bronx, New York City.


      Legacy


      Bronze busts honoring Woolworth and seven other industry magnates stand outside between the Chicago River and the Merchandise Mart in downtown Chicago, Illinois.
      Woolworth was inducted into the Junior Achievement (US) Business Hall of Fame in 1995.
      A cemetery east of Watertown, New York, where he started his first store, is named for him.


      = Woolworth Company

      =

      In the 1960s, after Woolworth's death, the company began expanding into various individual specialty store concepts, including sportswear, which led to the development of the Foot Locker sporting goods store in 1974. For a while there was a chain of discount stores called Woolco. By 1997, the original chain he founded had been reduced to 400 stores, and other divisions of the company began to be more profitable than the original chain. The original chain went out of business on July 17, 1997, as the firm changed its name, initially to Venator, but in 2001 adopted its sporting goods brand, Foot Locker, Inc. In 2012 the New York Stock Exchange celebrated Woolworth's 100th anniversary. The UK stores, under separate ownership since 1982, continued operating under the Woolworth name after the US operation ceased and by the 2000s traded as Woolworths Group. The final UK stores ceased trading January 6, 2009. The UK Woolworths brand was bought by Shop Direct Group in the UK and operated online only but it ceased being operated as Woolworths in 2015. Woolworth stores continue to operate in Germany. Although both the Australian and the South African companies took their names from Woolworth's US and UK stores, they have no connection to the F.W. Woolworth Company.


      See also


      List of Woolworth buildings
      Mr Selfridge (Episode 8)


      References




      External links


      "Woolworth, Frank Winfield" . Encyclopædia Britannica. Vol. 32 (12th ed.). 1922. p. 1074.
      Pictures of F. W. Woolworth's Long Island Mansion 'Winfield Hall'
      A virtual tour of downtown Hamilton – F. W. Woolworth Co. Ltd.
      Woolworth Museum

    Kata Kunci Pencarian: frank winfield woolworth

    frank winfield woolworthfrank winfield woolworth net worthfrank winfield woolworth cause of deathfrank winfield woolworth family treefrank winfield woolworth mansionfrank winfield woolworth biographyfrank winfield woolworth childrenfrank winfield woolworth religionfrank winfield woolworth foot locker Search Results

    frank winfield woolworth

    Daftar Isi

    Frank Winfield Woolworth - Encyclopedia.com

    May 11, 2018 · Frank Winfield Woolworth (1852-1919), American merchant, was a pioneer in retailing methods. He established the great chain of "five-and-ten-cent" stores which bear his name. Born to a poor farm family in upstate New York , F. W. Woolworth began his career by clerking in a general store in the local market center.

    Woolworth, F. W. - Encyclopedia.com

    Frank Winfield Woolworth was born on April 13, 1852, on a farm near Rodman in Jefferson County, New York. His parents, John Hubbell Woolworth and Fanny McBrier, had ancestors who came to America in 1660. He attended public school in Great Bend, New York, and later spent two short terms at a business school in Watertown, New York. He helped out ...

    Woolworth Corp | Encyclopedia.com

    May 9, 2018 · The company ’ s founder, Frank Winfield Woolworth, parlayed the idea of the 5-and-100 store into an international retailing empire. Born in 1852 in Rodman, New York, and raised on a farm, he moved to Watertown, New York, in 1873 where he apprenticed and then clerked with Augsbury & Moore, a wholesaler and dry goods store.

    Foot Locker, Inc. - Encyclopedia.com

    The history of Foot Locker may be traced through that of Woolworth and that company's founder, Frank Winfield Woolworth, who parlayed the idea of the five-and-ten cent store into an international retailing empire. Born in 1852, in Rodman, New York, Woolworth moved to Watertown, New York, in 1873 where he apprenticed and then clerked with ...

    Venator Group Inc. - Encyclopedia.com

    The history of Venator may be traced through that of Woolworth and that company ’ s founder, Frank Winfield Woolworth, who parlayed the idea of the five-and-ten cent store into an international retailing empire. Born in 1852, in Rodman, New York, Woolworth moved to Watertown, New York, in 1873 where he apprenticed and then clerked with ...

    Kingfisher Plc - Encyclopedia.com

    May 21, 2018 · The American company was founded in 1879. The company ’ s founder, Frank Winfield Woolworth, identified the potential for a walk-around open display type of shop in Britain during his first visit to Europe in 1890. He observed that “ the [London] stores … are very small and are called “ shops ” and not much like our fine stores. I ...

    Dime Stores - Encyclopedia.com

    Frank Winfield Woolworth, the father of dime stores, learned the concept while running a five-cent booth in the store of William Moore in Watertown, New York. In 1879, Woolworth opened his first store in Utica, New York. That store failed, but his second store, in Lancaster, Pennsylvania, succeeded, and by 1899 he owned fifty-four stores.

    Woolworth Building - Encyclopedia.com

    Woolworth Building on Broadway in New York, built in 1913; it was for a time the tallest building in the world. Source for information on Woolworth Building: The Oxford Dictionary of Phrase and Fable dictionary.

    Dime Stores/Woolworth's - Encyclopedia.com

    Frank Woolworth never stopped opening or buying new stores: he ran twelve in 1890, fifty-four in 1900, two hundred thirty-eight in 1910, and three hundred nineteen by the December 1911 merger that created F. W. Woolworth & Co. Combined with his brother Charles's fifteen stores, his cousin Seymour Knox's ninety-eight, Fred Kirby's ninety-six ...

    Randall, Monica 1944- - Encyclopedia.com

    A predilection for ghosts and paranormal events is even more evident in Randall's 2003 book Winfield, a personal history of the mansion built by five-and-dime owner F. W. Woolworth. Built for nine million dollars in the early twentieth century, Winfield is among the most fantastic of the mansions built along the North Shore of Long Island, the ...