Fred Kirby became a Vice President of the F. W. Woolworth & Co., which was listed on the New York Stock Exchange.
At fifteen, as a clerk at Moore & Smith in Watertown, New York, Kirby’s employers introduced him to 5 and 10-cent selling.
Stores around the United States began selling slow-moving merchandise at low prices.
Moore & Smith tried the innovative idea by setting up temporary displays of cheap goods to clear shelves.
Shoppers purchased products in large quantities, enabling Kirby to sell goods below their manufactured prices.
With an additional $100 from his father, Kirby moved to Wilkes-Barre, Pennsylvania in 1884 with Charles Sumner Woolworth, his future business partner, to invest his money in a new company.
[5] Kirby spent the early part of 1885 borrowing money from his neighbors to pay shipping charges.
Thus, Fred Morgan Kirby resolved to reach out to his customers and own one of the nicest stores in Wilkes-Barre.
Kirby slowly won over his customers with his sincere attitude and “quiet sense of humor.” He transformed into a businessman with whom people were delighted to speak.
Newspaper articles state that customers saw that his products were good value for the quality and returned to Woolworth & Kirby to see his new stock.
[4] Kirby donated large sums of money to high schools and colleges to provide better education.
In addition, he donated $900,000 to Swarthmore College to build a laboratory and create a lasting endowment.