Lyla Lindsey
Woolworths Group Limited is an Australian holding company that was established on December 5, 1924, when the first Woolworths store, called the Woolworths Stupendous Bargain Basement, opened in Sydney's Imperial Arcade. The company has no links to the Woolworth chain of five-and-dime stores in the US but adopted the name when the founders realised it had not been registered in Australia. Woolworths Group Limited is one of the largest companies in Australia by revenue and the second-largest in New Zealand.
| Characteristics | Values |
|---|---|
| Year founded | 1924 |
| Founding location | Sydney's Imperial Arcade |
| Founding date | December 5 |
| Founding name | Woolworths Stupendous Bargain Basement |
| Type of store | Variety store |
| Number of initial stores | 1 |
| Year of first food store | 1950 |
| Location of first food store | Dee Why, Sydney |
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What You'll Learn
Woolworths Stupendous Bargain Basement opened in 1924
Woolworths Group Limited, an Australian multinational retail and finance company, was established on 5 December 1924, with the opening of its first store, the Woolworths Stupendous Bargain Basement, in the Imperial Arcade on Pitt Street in Sydney. The company was founded by Percy Christmas and Stanley Chatterton, inspired by a misfiled library book, "The Clock that Had No Hands", which was a series of essays on advertising. The book gave Christmas, an avid reader, ideas for his new business venture.
The basement floor of the Imperial Arcade was an unlikely location for a retail business, with an uneven floor and a depressingly inappropriate atmosphere. However, the rental price was attractive at 32 cents per square foot per annum. The bargain basement sold $1,326 worth of goods on its opening day, and the company has since grown to become one of Australia's largest companies by revenue and number of employees.
The Woolworths Stupendous Bargain Basement was the first of many stores to come. The company expanded during the late 1920s, opening a second store in Sydney and branching out to Brisbane, Perth, and Wellington in New Zealand. By the end of 1933, Woolworths had 23 stores, including its first store in Melbourne, which opened in 1933. The company continued to grow, despite World War II slowing its expansion, and by 1955, Woolworths opened its 200th store in the Civic Centre in Canberra.
Over the years, Woolworths diversified its business, closing its variety stores in the 1980s to focus on other retail brands, including supermarkets, department stores, and liquor retailing. Woolworths has also expanded into the petrol retailing market and financial services, offering credit cards, insurance, and banking services. Today, Woolworths owns well-known brands such as Woolworths Supermarkets, Big W, and Dan Murphy's, and trades in every Australian state and territory, as well as in New Zealand.
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Woolworths Australia has no links to the US chain
Woolworths, or "Woolies" as it is affectionately known in Australia, is an Australian supermarket chain owned by Woolworths Group. It was founded in 1924 when Woolworths Stupendous Bargain Basement opened in Sydney's Imperial Arcade. Woolworths is currently Australia's largest supermarket chain with a market share of 32.5% as of 2023.
Despite the similarity in names, Woolworths Australia has no links to the US chain. The Australian Woolworths brand name was inspired by the US Woolworths brand name, F.W. Woolworth, which was a well-known company and brand that had expanded to Canada and England and was soon to expand to Germany. The US Woolworths inhabited the world's tallest building, the Woolworth Building, as its headquarters.
The original name of the Australian company was to be ‘Wallworths Bazaar Ltd’, but when it was discovered that F.W. Woolworths hadn't registered the name in Australia and had no plans to expand there, the name was changed to Woolworths. According to some sources, this was due to a "cheeky dare" by one of the original owners, Harold Percival Christmas, who dared his partner, Cecil Scott Waine, to name the store after the US brand.
The only dispute between the two companies occurred in England, as both had subsidiaries there. The US Woolworths were granted an injunction that stopped Woolworths (Australasia) Limited from trading in the UK as long as Woolworth or Woolworths was part of its title. The Australian Woolworths UK subsidiary name was then changed to Australasian Chain Stores. Today, the US Woolworths brand no longer exists, having become Footlocker, and the Australian Woolworths is a supermarket chain rather than a retail store, demonstrating the divergence of the two companies.
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Woolworths' first food store was self-service
Woolworths, an Australian holding company, was established on 5 December 1924, with the opening of its first store, the Woolworths Stupendous Bargain Basement, in Sydney's Imperial Arcade. Initially, the company operated as a variety store, with no links to the Woolworth chain of five-and-dime stores in the USA. However, the founders adopted the name 'Woolworths' after realising it had not been registered in Australia.
The company expanded rapidly, and by 1930, Woolworths had established 16 stores across New South Wales, Queensland, and Western Australia. By the end of 1933, the company's presence extended to 23 branches in Australia and 8 in New Zealand. Woolworths' foray into the food business began with the opening of its first food store in 1950. This store, located in Dee Why, Sydney, introduced the concept of self-service, marking a significant shift in the company's offering.
The Dee Why store represented a trial of the self-service model, and Woolworths subsequently expanded its food sections to several other stores in Sydney suburbs, including Burwood, Campsie, Punchbowl, and Granville. The grocery range available in these early food stores was limited but included fresh produce and packaged meats. The move towards self-service and the expansion into food retail signalled Woolworths' evolution beyond its variety store origins.
The company continued to grow and diversify its food business. In 1959, Woolworths celebrated the opening of its 300th store, and by 1960, it had acquired several supermarket chains, including John Wills in Western Australia and Food Fair and Safeway in New South Wales. The acquisition of these chains solidified Woolworths' presence in the food retail market and set the foundation for its future success as one of Australia's largest supermarket chains. Woolworths' transition from a variety store to a leading food retailer began with the introduction of self-service in its first food store, demonstrating the company's adaptability and willingness to embrace new concepts to meet customer needs.
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Woolworths Group Limited is one of Australia's largest companies
Woolworths Group Limited is an Australian multinational retail and finance company, primarily known for its retail chain Woolworths Supermarkets. It is the largest company in Australia by revenue and number of employees, with over 196,000 employees, and the second-largest in New Zealand. Woolworths Group was founded in Sydney in 1924 as a variety retailer, Woolworths Limited, and entered the New Zealand market in 1929. The company has traded in every Australian state and territory since 1960.
Woolworths Group has experienced steady growth throughout the 20th and 21st centuries and has diversified its business, closing the last of its variety stores in the 1980s to focus on its portfolio of other retail brands. The company has a large presence in Australia and New Zealand, with most locations containing a Woolworths-owned store as an anchor tenant. Woolworths Group consists of three core businesses: Australian Food, New Zealand Food, and Endeavour Group Limited.
Woolworths Supermarkets is one of Australia's largest supermarket chains, with nearly 750 supermarkets across the country. Woolworths also operates the discount department store Big W and the Woolworths Supermarkets chain in New Zealand, previously known as Countdown. In addition to its retail business, Woolworths Group has a significant presence in the liquor and hospitality industries, being one of the largest takeaway liquor retailers in Australia and one of the largest hotel and gaming poker machine operators in the country.
Woolworths Group has a strong commitment to sustainability and social responsibility. The company aims to have all its operations in Australia and New Zealand running on 100% renewable electricity by 2025 and is working to prevent food waste through partnerships with food rescue organizations. Woolworths Group also recognizes the importance of its team, striving to create a great work environment and provide exceptional service, products, and prices to its customers.
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Woolworths Group Limited consists of three core businesses
Woolworths Group Limited, an Australian holding company, was founded in Sydney in 1924 as a variety retailer Woolworths Limited. It is headquartered in Bella Vista, New South Wales, Australia, and is considered one of the largest companies in Australia by revenue and the second-largest in New Zealand.
The Australian Food division includes Woolworths Supermarkets and Metro, with the latter being inner-urban small-format supermarkets located in metropolitan areas, offering pre-prepared meals and fresh food. Woolworths Online is also part of this division, allowing customers to order groceries for delivery.
The New Zealand Food division includes Countdown, which operates more than 180 stores across New Zealand, as well as distribution centres and processing plants. In July 2023, Woolworths announced that its Countdown supermarkets would be rebranded as Woolworths over the next three years, starting in early 2024.
The Endeavour Group Limited, a joint venture with the Bruce Mathieson Group, includes liquor and hospitality businesses. This includes BWS, which are liquor stores co-located with Woolworths supermarkets; Cellarmasters, an online wine business; and Dan Murphy's, large liquor barns often referred to as liquor supermarkets. The Australian Leisure and Hospitality Group (ALH) is also part of this division, providing hospitality experiences such as restaurants, cafes, and gaming.
Woolworths Group Limited also has a range of other businesses and ventures, including Woolworths Financial Services & Insurance, offering financial products; Everyday Rewards, a loyalty program; and Big W, a discount department store. Woolworths has also expanded into the healthcare sector with HealthyLife Pharmacy and has made acquisitions in the pet care and beauty industries.
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Frequently asked questions
Woolworths was founded in Australia on December 5, 1924, in Sydney’s Imperial Arcade.
The first Woolworths store in Australia was called Woolworths Stupendous Bargain Basement.
No, the founders of Woolworths Australia had no links to the Woolworth chain in the USA. They simply adopted the name when they realised it had not been registered in Australia.
Woolworths Australia opened its first food store in 1950 at Dee Why in Sydney.
The first stand-alone Woolworths supermarket opened in Warrawong, New South Wales, in May 1960.
