Editing TG&Y (section)

==History==
Founded in 1935, the chain was headquartered in [[Oklahoma City]] and named for the last initials of its three founders: Rawdon E. Tomlinson, Enoch L. "Les" Gosselin, and Raymond A. Young. The three men each owned separate variety stores in Oklahoma when they met at a trade show in 1932.{{efn| Tomlinson's operations had been based in [[Frederick, Oklahoma]], Gosselin's in [[Cordell, Oklahoma]] and Young's in [[Kingfisher, Oklahoma]].<ref name="EOHC-T.G.&Y."/>}}  In 1935, the three pooled their financial resources to form the Central Merchandising Corporation and built a warehouse in Oklahoma City, allowing their stores to buy merchandise in bulk directly from manufacturers, instead of through wholesalers. They opened their first jointly-owned store in 1936.<ref name="EOHC-T.G.&Y.">[http://www.okhistory.org/publications/enc/entry.php?entry=TG001 Wilson, Linda D. "T.G.&Y. Stores." ''Encyclopedia of Oklahoma History and Culture.''] Accessed August 2, 2017.</ref> The owners' initials were ordered according to the ages of the three, with Tomlinson being the oldest.<ref>{{cite news |url=http://journalrecord.com/2001/12/03/say-goodbye-to-tgy/ |title=Say goodbye to TG&Y |work=Journal Record, The (Oklahoma City) |date=2001-12-03 |accessdate=2017-07-06 |url-access=subscription }}</ref><ref name="oklahoma hist society">{{cite web|title=T.G.&Y. STORES|url=http://www.okhistory.org/publications/enc/entry.php?entry=TG001|website=okhistory.org|publisher=Oklahoma Historical Society|accessdate=13 March 2015}}</ref> Raymond Young, the only partner remaining with the chain, oversaw operations until his retirement in 1970.<ref name="auto">{{cite web|url=http://www.okchistory.com/index.php?option=com_content&view=article&id=146:the-demise-of-tgay&catid=40:events&Itemid=77 |title=The Demise of TG&Y| last=Lackmeyer |first=Steve |date=2009-01-27 |archive-date=2016-03-16 |archive-url=https://web.archive.org/web/20160316064204/http://www.okchistory.com/index.php?option=com_content&view=article&id=146:the-demise-of-tgay&catid=40:events&Itemid=77| website=OKC History| access-date=2017-07-06}}</ref>{{efn|Tomlinson died in 1947 and Gosselin died in 1977.<ref name= "RedDirt">[http://www.reddirtreport.com/rustys-free-time/tgy-exhibit-kingfisher-reminder-variety-store-chains-golden-era Griffin, Andrew W. "TG&Y exhibit in Kingfisher a reminder of variety store chain's golden era." Red Dirt Report. April 22, 2014.] Accessed August 3, 2017.</ref>}} Gosselin's 35 stores were the last to rebrand from his Gosselin's Store moniker to TG&Y 5¢ to $1 Stores.<ref>"Gosselin's Makes Slight Name Change." ''Elk City News'', 4 May 1945, p. 1.</ref>

In 1957, the 125-store TG&Y chain was acquired by [[Butler Brothers]] of Chicago, with the stipulation that Young's leadership remain unchanged. After Young's retirement, leadership changed frequently.<ref name="auto" /> By this time, there were 127 retail stores. By 1960, the entire TG&Y operation had become a wholly owned subsidiary of City Products, a Chicago-based company which already operated other variety stores. City Products tried out a [[big-box store]] approach branded as a TG&Y Family Center. A 1961 [[Wall Street Journal]] article explained the "broad transformation" of the entire variety and dime store industry that was taking place as City Products was trying to update TG&Y's image.<ref>Mathewson, Joseph. "Five and Tens Running Scared, Change Their Ways." ''Tulare Advance-Register'', 24 June 1961, p. 6 (reprinted from the original article in the ''Wall Street Journal''). </ref> 

TG&Y's Family Center served as the company's first [[anchor tenant]] or anchor store in shopping centers as opposed to their secondary, interior stores and downtown locations that existed previously. City Products approach on TG&Y was similar to variety chains Woolworth's big box [[Woolco]] store and [[S.S. Kresge]] and [[W.T. Grant]] strategy with [[Kmart]] and Grant City anchor stores with food and drugs. The first two Family Center branded stores were in Oklahoma and were the first to have expanded food and drug departments. The 60,000 square foot store in Oklahoma City's Southern Hills Shopping Center was by far the chain's largest and most expensive store at $4 million. <ref>"Shopping Centers to Start." ''Daily Oklahoman'', 10 September 1963., p. 3.</ref> 

In the Fall of 1965,<ref>"TG&Y: From Regional Chain to National Power." ''Chain Store Age'', December 1966, p. 13.</ref> [[Household Finance Corporation]] (HFC) acquired City Products and HFC then also controlled [[Coast to Coast Hardware]] and [[Ben_Franklin_(company) | Ben Franklin]] stores.<ref name="EOHC-T.G.&Y."/> HFC would continue its aggressive national growth of TG&Y Family Center strategy over the smaller variety stores. In 1975, [[David Green (entrepreneur)|David Green]] left a supervisor job at TG&Y to open the second location in what would become the [[Hobby Lobby]] chain of arts and crafts stores, also based in Oklahoma City.<ref name="2003historyone">{{cite news| date=2003-10-23| accessdate=2017-07-06 |url=http://newsok.com/hobby-lobbys-history/article/1951885 |title=Hobby Lobby's history| work=[[The Oklahoman]]}}</ref>

In 1986, when it had over 700 stores, TG&Y was acquired by competitor [[McCrory Stores]].<ref name="oklahoma hist society" /> McCrory was a division of Rapid-American Corporation, a holding company that owned several retail chains. At the time, Rapid-American was solely owned by businessman and money manager [[Meshulam Riklis]].<ref name="Belkin">[https://www.nytimes.com/1985/12/27/business/rapid-american-to-buy-tg-y-store-chain.html Belkin, Lisa. "Rapid-American to buy T.G.&Y. Store Chain." ''New York Times''. December 27, 1985.] Accessed August 3, 2017.</ref> For a brief period, McCroy / Rapid allowed TG&Y to remain an independent subsidiary retaining its Oklahoma base and emplpyees; that decision was rethought as the company reoganized which, in turn, would begin TG&Y's descent.<ref>"TG&Y Sold." ''Elizabethton Star'', 14 January 1986, p. 1.</ref>

At its peak, the chain had nearly 1000 stores in 29 states, from Florida to California.