Charles Sumner Woolworth managers, brightly lit stores, and frequently-changed window displays to lure customers inside. In 1912 C. S. Woolworth & Co, with the other affiliated chains, merged 596 stores under the corporate name "F. W. Woolworth Company". After the death of his brother, Frank Winfield Woolworth, Charles Sumner Woolworth became the reluctant Chairman of the Board of F. W. Woolworth Company (now Foot Locker), for 25 years. As a philanthropist and business man, he was involved with several institutions and businesses in Scranton, Pennsylvania, and other areas. Charles Sumner Woolworth, known by everyone as Sum, was born on August 1, 1856, in
F. W. Woolworth Company closed. Amid the decline of the signature stores, Woolworth began focusing on the sale of athletic goods. On January 30, 1997, the company acquired the mail order catalog athletic retailer Eastbay. On March 17, 1997, Wal-Mart replaced Woolworth's as a component of the Dow Jones Industrial Average. Analysts at the time cited the lower prices of the large discount stores and the expansion of supermarket grocery stores – which had begun to stock merchandise also sold by five-and-dime stores – as contributors to Woolworth's decline in the late 20th century. On July 17, 1997, Woolworth's closed its remaining department stores