Time was that F.W. Woolworth Co. was as much a part of America as baseball and hot dogs. The company was so successful that founder Frank Woolworth paid for the construction of the Woolworth Building in New York City, once the tallest building in the world, in cash. Today, the brand is largely unknown by shoppers under age 30, who may hear about Woolworth's only when they learn in school about the famous sit-in at the store's location in Greensboro, N.C., during the Civil Rights era.
Woolworth's, which ceased operating in the U.S. in 1997, used to symbolize the U.S. in other parts of the world, too, but the brand is continuing to fade. Reports from the U.K. say the Woolworths chain (the Brits don't use the apostrophe), which has been separate from the American parent for 25 years, is closing because it had been unable to find a buyer. The 815-store chain has 385 million pounds in debt, according the Independent newspaper.
Customers seemed to like the fact that Woolies -- its nickname in the U.K. -- sold a bit of everything. That's what people liked about the U.S. stores as well, from what I remember. In today's specialized retail world, though, this huge selection represents a problem. "To an analyst, that looks like a terrible lack of focus," the Independent said. Wal-Mart Stores Inc. (NYSE: WMT), which perfected Frank Woolworth's discounting strategy and drove the company he founded out of business, is one of the few that can get away with that approach today.
Woolworth's still brings back memories for many people.
I remember visiting a few Woolworth's when I was a kid in the 1970s and 1980s. They seemed grungy compared with the places my family usually shopped, such as Sears (NYSE: SHLD). I remember thinking it was weird that people would eat lunch in the middle of a department store.
Woolworth's was in some ways a victim of its own success. The five and dime concept it pioneered eventually morphed into the discount stores we know today. Woolworth's closed its remaining department stores in the U.S. in 1997 and changed its name to Venator as it became a sporting goods retailer. The firm is now known as Foot Locker Inc. (NYSE: FL). Ironically, Woolworth's was replaced in the Dow Jones Industrial Average by Wal-Mart.
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Reader Comments (Page 1 of 7)
12-13-2008 @ 10:48AM
Ron said...
My 1st date was at a Woolworth's. Banana Split for 2
12-12-2008 @ 2:35PM
spike said...
with all the businesses going out ,its starting to look like a parade.Maybe america will become an agrarian society again.The way its going we will have to grow our own food,maybe we can even sell some to the rich,save up and buy a nice a toyota
12-12-2008 @ 2:40PM
Jayme Is Here said...
the economy is gettin all of us, but I feel more sorry for those of us who are already poor than the ones who got to live big for so long.
12-12-2008 @ 2:42PM
Ken said...
I still have my parents' old Nativity set, bought at Woolworth's in Pittsburg, KS, about 1962. I also have fond memories of another long defunct chain... Kress.
12-12-2008 @ 2:44PM
Lisa said...
Love those sandwiches with potatoe chips...BLT and ham ones!!!!
12-12-2008 @ 3:03PM
sunflower47 said...
i loved woolworth's stores and also s.h. kress when it was in business back in my days of growing up(a long time ago).these were the main stores for evryday shopping. i sure do miss them.
12-12-2008 @ 3:12PM
Annette said...
What great memories this brings back! Susan & Anne in 1959, Janette & Peggy in1969, Janie and me all the time! We were safe on the bus and walking around downtown Norfolk. What memories will our kids have? Christmas shopping for everyone at Woolworths for a whole $10.00!
Maybe we all need to look back for a better future!
12-12-2008 @ 3:19PM
Joe C said...
Worked for Woolworth's for 25 years. Had an office in the Woolworth building, it was spectacular and a great place to work place.
12-12-2008 @ 3:26PM
Carlos said...
good memories.I used to work in Woolworth for 15 yrs. in PR and US. I bought a xmas tree 20yrs ago and we still using it every yr. ah ! the best cafeteria ever, good food !!! and good people !!
12-12-2008 @ 3:24PM
jeff said...
Sears is next
12-12-2008 @ 3:27PM
nick said...
Remember when I was in high school and one of my friends worked their part time and later went on full time. I know he must be sad. But if management goes down the tubes this is what happens and this is what GM and Chrylser should do also. We don't need unions these days, if they get what they paid for from the Democrats, this card check you will see alot of business close the doors before they are blackmailed by the union thugs.
12-12-2008 @ 3:34PM
Abraxus said...
Having moved here recently from the UK I can tell you Woolworths wasn't that bad of a store, similar to our local Marshalls here - in other words, untidy, hard to find items at times, and not enough staff. The downfall of the company can be blamed on their management for not moving with the times, ASDA (Walmart in the UK) and other large companies have progressed and gotten bigger and better, Woolworths stagnated and seemed dated. It's a shame for all the staff who will be losing their jobs, I was hoping someone would rescue them, but honestly, they're really not a good bet at all in this market!
12-12-2008 @ 3:38PM
Mac said...
As a child Woolworth's was a store where my mother would take us boys when mother had x-tra $ to buy NEW clothes....'it's been 45 years...but having just read the article....'it brings back fond memories for me.
12-12-2008 @ 3:50PM
Tom Simonton said...
One of my earliest memories, at age 5 or 6, during the Great Depression, was my mom taking me to a Woolworth's soda fountain in Los Angeles where I developed my craving for chocolate milk shakes, which lasts until this day. It's a great shame that one of the examples of how to survive that economic depression can't survive this one. Incidentally, in my day Woolworth's was known more as a five and dime rather than a department store. Department stores were for the wealthy.
12-12-2008 @ 4:05PM
westell said...
Early 60's growing up in small town Mich, the Woolworth in the middle of the small downtown was THE place to go.
Transplanted down to Houston and downtown Woolworth's was big. You could buy a gun at Woolworths !
12-12-2008 @ 4:22PM
Richard said...
I have a couple of the gold wooden letters from the 5th ave store which closed sometime around 1970. Must be worth something.
12-12-2008 @ 4:20PM
Earl said...
I remember when I was a kid being so excited every mid August to go school supply shopping with my mom downtown Brooklyn at the old Woolworth there (yes, when I was in elementary school I actually LOVED school). They always had the best deals on school supplies. First Alexanders, then Woolworths. I miss my childhood!!!
12-12-2008 @ 4:21PM
Sherry said...
In Michigan, we lost our store years ago. But I can remember back in the fifties when I was under 10, my girlfriend & I put on a bunch of make-up at the beauty counter. We went to look in the mirror & we looked like a couple clowns. We always purchased live green turtles, sometimes the brown ones, for "show & tell" at school. I remember some kid got bit. Those were the good memories. The only bad memory was black (negro people) back then couldn"t sit at the lunch counter. Even as a kid I knew this was wrong. I'm glad that changed. How sad the memories those people must still have. Woolworth would'nt survive those policies today.
12-12-2008 @ 4:21PM
Sheldon said...
I remember F. W. Woolworth's in Elmhurst, Illinois, when I was just a kid. A few doors down, I believe was S. S. Kresgee's, their competition. Great stores!
12-12-2008 @ 4:22PM
Madame said...
Proud to say that I'm under 30 and know what Woolworth's is! We used to have one at one of the mall's here in Vegas and I'd go shopping there with my parents all the time! I always remember buying candy there...