DIME STORE'S END; WOOLWORTHS TO SHUT DOWN.Byline: Rachel Beck Rachel Beck is an American reporter for the Lebanon Express in Lebanon, Oregon. Born 5 April, 1982, she was raised in Sisters, Oregon. In 2000, she graduated from Sisters High School[1]. She graduated from Vassar College with the class of 2004. Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. It was the anchor of Main Street, where generations went for a thimble thimble, n See coping. thimble, ionization chamber, n See chamber, ionization, thimble. , a mop or even a bite to eat. But the dime-store era officially came to an end Thursday with Woolworth Corp.'s announcement that it would shut all its 400 remaining five-and-dime stores nationwide and lay off 9,200 workers. Faced with unbeatable competition from Wal-Mart Stores Inc. and other big discounters, F.W. Woolworth stores couldn't survive as shoppers left downtown America for giant malls and outlet centers. ``Woolworth was the last of the five-and-dime stores,'' said Kurt Barnard, a retail consultant and president of Barnard's Retail Marketing Report. ``Years back, people depended on five-and-dimes for everything; today others fill those needs.'' Woolworth was the original five-and-dime store, founded in 1879 in Lancaster, Pa., by Frank Woolworth. The stores boomed in prewar downtowns and became fixtures in suburban strip shopping centers. Others like McCrory Corp. and Ben Franklin copied its concept, offering shoppers a mix of merchandise from beach chairs to beauty aids, all under one roof. They, too, have fallen in recent years, both landing in bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. . Woolworth even played a role in the civil rights movement. After four African-American students were denied lunch at its Greensboro, N.C., store, a 50-city protest erupted, and Woolworth eventually changed its discriminatory practices in 1960. But the heyday of F.W. Woolworth is long gone. Last year, the five-and-dime stores in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. reported an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $37 million and only accounted for $1 billion of Woolworth Corp.'s annual sales of over $8 billion. ``Closing of the Woolworth stores is long overdue,'' said retail consultant Walter Loeb. ``Today's Woolworth store was just not viable.'' CAPTION(S): 2 Photos Photo: (1--Color) Quadiyyah Haywood works the register at the F.W. Woolworth store in Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. . (2) Employees at a Woolworth store pose in the early 1900's. Associated Press |
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