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Woolworths Corporation is an Australian retail chain of supermarkets and grocery stores that are owned and managed by The Woolworths Group. Initially founded in 1925, Woolworths is considered today to be one of Australia's largest supermarket retail chains, with a combined market share of approximately 35% as of late 2020.
Woolworths Limited - which is colloquially called "Woolies" by most Australians - is now known as The Woolworths Group; it was founded by five local business entrepreneurs. Their very first retail store was inaugurated in December 1925, in Pitt Street Sydney, and specifically within Sydney's Imperial Arcade. It was originally branded as "Woolworths Stupendous Bargain Basement Store".
Following the successful opening of the first store, surprisingly, there was minimal interest to expedite the growth of the brand. However, as successful trading continued, shareholders induced additional capital into the business, and the company's dividends increased dramatically from 5% to 55% in only its third operational year.
Woolworths specialises and concentrates on providing all types of groceries, magazines, beauty and health products, general household products, baby goods, baby supplies, and all forms of stationery.
Towards the end of 2020, there were approximately 990 Woolworths branded supermarkets, and about 65 Woolworths Metro convenience branded stores. Woolworths' online e-commerce channel is branded as "click and collect", and they provide home delivery services for those customers of Woolworths supermarkets.
Nowadays, Woolworths has reported gross revenues upwards of AUD 42.5 billion, and they employ approximately 215,000 staff across their retail stores and head office (note: these are year 2020 figures).