Woolworth's Day – February 22, 2025

History of Woolworth's Day

Frank W. Woolworth, the pioneer of the Woolworth business, was born in 1852 in the U.S. He was an entrepreneur who pioneered the concept of buying products directly from the manufacturer and then selling it at his rate to eliminate the middle man. At the age of 27, he opened a Woolworth’s Grand Five Cents Store in New York in 1879. The business failed because of several reasons but the primary reason was the expense of living in New York.

The tale did not end there as Frank continued searching for a new location to open the same store and so he did. He opened a new store in Pennsylvania which proved to be a success. With this success, he brought in his brother to follow suit and open another branch in the state with the name “Five Cents Woolworth’s Bro’s Store.” The store initially failed, but under the manager Sum, the store gradually progressed and soon enabled the store manager to buy out the store. This purchase resulted in the store chain having its first franchise under Sum. The chain of five cents stores continued expanding while using Woolworth’s name in some formats. By the start of the twentieth century, there were six chains of stores functional in the U.S. and Canada. Profits from the chain were massive, and hence by 1910, Frank planned to construct the Woolworth Building in New York. Until 1932, the store continued selling at the original price of five and 10 cents, but in 1935 this practice was altogether abolished.

The stores continued operating and expanding until 1997 when the company decided to shut down its business and explore another avenue under the name Foot Locker Inc. The name Woolworth continues to exist in Australia, Europe, and South Africa despite having no link with the original Frank W. Woolworths chain.