Word: woolworth
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...Woolworth's president quits...
...Colwell, 28, a Dallas publicist: "It's a consumer-oriented Christmas," as if somehow it rarely had been until this year. She is waiting for Evan-Picone suits at Sanger Harris to go on sale. When they do, she will buy. Said Martin Tolep, economist for F.W. Woolworth: "By waiting, they're going to make some retailers frantic...
...these factors may be offset by equally powerful negative forces. The greatest of these is, of course, unemployment, which in November was running at a post-Depression high of 10.8% of the US. work force. Members of 20% of American families have experienced some joblessness this year, says Woolworth's Tolep...
DIED. Edward F. Gibbons, 63, chairman and chief executive officer since 1978 of the F.W. Woolworth Co.; after a brief illness; in Valhalla, N.Y. Gibbons strove to revive the stodgy company with more detailed budgeting, more specific planning and fewer stores that catered exclusively, in his words, to "old birds like myself." Only last September, in a decisive move to streamline and, he hoped, strengthen the business, he resolved to close all 336 outlets of the flagging Woolco discount chain (cutting the company-by 30%) and to sell Woolworth's British subsidiary...
...lawns. Last spring the royal couple threw a party for their three-year-old son that featured circus performers, an orchestra, fireworks, kosher hot dogs and a birthday cake on which live flamingos perched. The final straw came when the prince and princess renovated their house-once the staid Woolworth mansion-in dissonant contemporary style, including a discothèque and a device that simulates thunder. "It looks," a local arbiter says, "as if they just bought the entire lobby of the Ramada...