What Happened to Woolworth? The Five-and-Dime That Became Foot Locker

July 17th, 1997. The company that once ran the largest chain of department stores in the world closed its last 400 American five-and-dime stores. But Woolworth didn't die. Today you know it as Foot Locker. It started in 1879 with a borrowed $300 and a simple idea: everything for a nickel or a dime, out in the open where you could pick it up. It built the tallest building in the world and paid for it in cash. Its lunch counter in Greensboro became a landmark of the civil rights movement. Then, in 1962, Walmart, Kmart and Target all opened their first stores — and Woolworth's old rival Kresge went all in on Kmart while Woolworth didn't. Did you ever sit at a Woolworth lunch counter or spend your allowance in a five-and-dime? Tell us what you remember in the comments. CHAPTERS 0:00 The day the five-and-dimes closed 0:34 The Five-Cent Idea 2:10 Nickels and Dimes 3:45 Breaking the Dime 4:28 The Lunch Counter 5:21 The Discount Mistake 7:03 Main Street Empties Out 8:27 The Last Five-and-Dime 9:31 What Woolworth Teaches SOURCES Wikipedia: "Woolworth", "Frank Winfield Woolworth", "Kmart" Woolworth Corporation, SEC Form 8-K (1997) Some scenes are illustrated with AI-generated images where no archival footage exists. Archival footage and photos are used for commentary and historical education. Brand names belong to their owners; this channel is not affiliated with them. The Business Behind tells the stories of the American companies you grew up with: who built them, how they made their money, and why they disappeared. Subscribe for the next one. #Woolworth #RetailHistory #BusinessDocumentary