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10 US chain stores where everyone used to shop that no longer exist today

Published by Business Insider on Fri, 15 Feb 2019

Before everything was available for purchase online, department stores and brick-and-mortar businesses were where shoppers bought what they needed.Woolworth first opened in New York in 1879 and, in 2001, became what is now Foot Locker.E. J. Korvette and Wanamaker's employed many business practices that are still used today.It's hard to imagine an age when you couldn't browse the internet and purchase clothes, books, or household supplies from your favorite stores.Early department stores founded in the 19th century and early 20th centuries were revolutionary in their time, and their impact on the retail industry can still be seen today.Yet, from increased competition to overly ambitious mergers to an inability to adapt to the changing times, many of those stores have been forced to close their doors.Here are 10 US chain stores where everyone shopped back in the day but have since closed.Woolworth was one of the first discount stores.Woolworth, which opened in 1879 in Utica, New York, was one of the original discount stores, known as five-and-dime stores at that time, in the United States. The Woolworth corporation sold everything from dishcloths to stationary for less than 10 cents. Over 100 years after the first Woolworth discount store opened its doors, the corporation (renamed Venator Group Inc. in 1998), closed the chain and decided to focus on their smaller, sporting goods stores instead, according to SF Gate.Kinney Shoes offered reasonably priced shoes.Kinney Shoes was one of the specialty stores that Woolworth Corp, later named Venator Group Inc., decided to focus on after closing down itsWoolworth stores. Before the shoe store was purchased by the larger corporation in 1963, it was a family-operated store selling reasonably priced footwear as early as 1894.By 1998, however, Venator Inc. announced it was closing 467 Kinney Shoes stores because they were dragging down sales and profits, according to San Francisco Chronicle.What was left was Venator Inc.'s store Foot Locker leading the corporation to change its name to Foot Locker Inc. in 2001.Wanamaker department store was the first to employ many marketing practices used today.When John Wanamaker opened one of the first department stores in the US in 1874 in Philadelphia, he had profound effects on the retail industry's advertising and marketing practices. Wanamaker created large-scale seasonal sales, money-back guarantee, and a fixed-priced system. Within a few years, he also added an in-store restaurant and elevators. In its segment "Who Made America'," PBS called the Wanamaker's department stores "palaces of consumption that turned shopping into an event for ordinary people."After switching ownership over the years, the chain went out of business in the late 20th century. The chain's flagship store in Philadelphia was converted into a Macy's in 2006 and is now a national historic landmark. The extravagant Christmas light show that was a namesake of Wanamaker's throughout the years is still carried out by Macy's.See the rest of the story at Business Insider
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