Thread: Forbes: US Publishers 2017 results
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Old 08-08-2018, 04:37 PM   #23
pwalker8
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Quote:
Originally Posted by rcentros View Post
No, they didn't simply "rebrand" one of their divisions. As far as I can tell, Foot Locker was not rebranded at all. What they did was create a new company and siphoned off the money-making divisions from the old company. In other words, they were preparing to let Woolworth's (proper) founder, while they built a life-boat to watch it sink. They didn't fix (or attempt to fix) the problems with Woolworth's, they gave up on it. This kept the suits happy, but the employees and (probably) the investors in the original F.W. Woolworth Company were screwed.
Hum, that's not what the linked article said. It said the company first renamed themselves Venator Group, and then Foot Locker, Inc. The department store had a pretty long run, from 1879 to 1997. Not many companies last that long.
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