Images: from an ebay auction listing
Presumably an individually-owned shoe store, it looks like Triangle sold or gave away at least this one promotional item. Just in case you don’t know how it worked, one would hold it where the Walt Disney’s “PINOCCHIO” lettering is. The trick would be to jerk it upward then jab Pinocchio’s nose into the airborne ring. It seems simple but it took a little bit of skill — it was a good item to occupy a child for awhile perhaps while waiting for a sibling to get their shoes.
Today that address houses Ferguson’s Gallery and Royal Bartending School. It appears to be in the same building that was there in 1939 albeit modernized a little.
Image: Life magazine photo by Peter Stackpole via https://blog.johannaost.com/2012/08/01/lana-turner-in-hollywood .
This appears to be in southern California based on the Los Angeles city style streetlights. Click on the image link to see more 1939-1940 photos of the actress.
“Roosevelt listened to this plea [from the head of Federated Stores to move the Turkey Day forward one week, to give merchants another week to tempt their customers], and at a Press Conference held August 14th, he said that ‘I have been hearing from a great many people for the last six years, complaints that Thanksgiving came too close to Christmas’. After Lazarus, the President had also heard from the National Retail Dry Goods Association, as well as executives of Gimbels and Lord & Taylor. Roosevelt reminded the press that Thanksgiving was still not an official holiday, and that each year the President picked the date. And, since these experts believed that adding another week to the shopping season would increase sales by 10%, Franklin announced, this year, at least, he was moving Thanksgiving to Thursday, November 23rd.
Image and excerpt from http://thepublici.blogspot.com/2010_11_14_archive.html . Learn more about the arguments for and against the date change at the link.