History
The first chain store was British-owned W H Smith. Founded in London in 1792 by Henry Walton Smith and his wife, the store sells books, stationery, magazines, newspapers, and entertainment products.
In the U.S., chain stores began with the founding of The Great Atlantic & Pacific Tea Company (A&P) in 1859. By the early 1920s, the U.S. boasted three national chains: A&P, Woolworth's, and United Cigar Stores. By the 1930s, chain stores had come of age, and stopped increasing their total market share. Court decisions against the chains' price-cutting appeared as early as 1906, and laws against chain stores began in the 1920s, along with legal countermeasures by chain-store groups.
Read more about this topic: Chain Store
Famous quotes containing the word history:
“The one duty we owe to history is to rewrite it.”
—Oscar Wilde (1854–1900)
“There is one great fact, characteristic of this our nineteenth century, a fact which no party dares deny. On the one hand, there have started into life industrial and scientific forces which no epoch of former human history had ever suspected. On the other hand, there exist symptoms of decay, far surpassing the horrors recorded of the latter times of the Roman empire. In our days everything seems pregnant with its contrary.”
—Karl Marx (1818–1883)
“The history of any nation follows an undulatory course. In the trough of the wave we find more or less complete anarchy; but the crest is not more or less complete Utopia, but only, at best, a tolerably humane, partially free and fairly just society that invariably carries within itself the seeds of its own decadence.”
—Aldous Huxley (1894–1963)