Business: John Thrifty

In the U. S., "five & ten" is now pretty much a misnomer, with Woolworth and Kresge selling items up to $1. But in England "three & six penny'' still has some semblance of accuracy. Woolworth's, which opened its first English store in 1909 and last year had 711 with profit of $32,000,000. no longer adheres to the strict price policy. But its biggest rival, the 228 Marks & Spencer stores which earned just over $8,000,000 in 1937, still does.

Last week these potent chains had a new rival, a peewee 3d. & 6d. store named John Thrifty. It was started by...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!