biography
| name: |
Grant, W(illiam) T(homas)
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| sex:
| male
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| lived:
| (1876–1972)
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| biography:
| Retailer, born in Stevensville, Pennsylvania, USA. The family moved to Massachusetts, where he had several jobs including a brief spell as a prize fight promoter. In 1906, while working as a clerk in a store, he noticed how quickly the 25-cent items sold. He went on to open his own large store in Lynn, MA with 21 departments, all selling items for 25 cents or less. W T Grant's, with Grant controlling all the buying, was an immediate success, and he expanded to Connecticut (1908) and New York City (1913). By 1917 he had 30 stores and topped prices at $1. The company went public in 1928, and by 1940 he had stores in 44 states and no limit on prices. He resigned as chairman of the board in 1966, and three years after his death, his company made retail history by filing for bankruptcy. He established the Grant Foundation for children in 1936. |
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