Lits positioned itself well as a more affordable alternate to its upscale competitors Strawbridge and Clothier, John Wanamaker, and Gimbels.

[1] In 1891, Rachel P. Lit (1858-1919, later surnamed Weddel, still later Arnold) opened a women's clothing shop on the corner of Market and N. 8th Streets.

With alterations and additions, the Lit Brothers Store became the only full block of Victorian architecture in Philadelphia, composed of 33 buildings constructed between 1859 and 1918, with a common interior.

The uniformity of the entire Renaissance Revival-style facade is supported by the use of a classical arch window in all of the buildings, which are painted the same color.

[5] In 1962, they purchased the suburban locations of Snellenburg's, another Philadelphia department store chain owned by Bankers Securities Corporation, which was closed in 1963.

Lits joined its fellow Center City department stores in presenting a Christmas season exhibit when, in 1962, it opened the Enchanted Colonial Village.

As of December 2019, the American Treasure Tour Museum is in the process of rebuilding the entire display and featuring it as a permanent part of their collection.

Faced with growing competition in a changing retail landscape, Lit Brothers closed its doors in April 1977.