Preface: There is nothing new in the world except the history you do not know. – Harry S. Truman
History of F.W. Woolworths Stores
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, 1879, as “Woolworth’s Great Five Cent Store” in Utica, New York. Though it initially appeared to be successful, the store soon failed.
Starting again….
When Woolworth searched for a new location, a friend suggested Lancaster, Pennsylvania. Using the sign from the Utica store, Woolworth opened his first successful “Woolworth’s Great Five Cent Store” on June 21, 1879, in Lancaster, PA.
https://en.wikipedia.org/wiki/F._W._Woolworth_Company
Learning lessons from history — In just 41 days from normal stock trading activities on Wall Street, after 99 years and two months at the heart of the High Street, The Woolworth stores closed their doors for the last time as the Great Recession began in 2008………
Read the F.W. Woolworth Business History here.