The F. W. Woolworth Company store description is discontinued because the company closed all remaining US stores in 1997 due to declining sales and competition, though the corporate entity later became Foot Locker, Inc., shifting focus to sporting goods. The iconic "five-and-dime" concept evolved but couldn't keep pace, leading to the end of an American retail era marked by affordable goods, lunch counters, and unique knick-knacks.

Key Aspects of the Discontinuation:

Closure Date: The final U.S. Woolworth stores shut down in July 1997.

Reason: Intense competition from discount retailers and changing consumer habits made the traditional variety store model obsolete.

Corporate Evolution: The F.W. Woolworth Corporation became Venator Group in 1998 and then transitioned to Foot Locker, Inc. by 2001, focusing on its profitable shoe and sporting goods business.

Retail Model: Known for its "five-and-dime" concept, offering inexpensive everyday items, lunch counters (diner-style), and unique merchandise, it defined 20th-century downtown shopping.

Legacy: The closure marked the end of an era for American general merchandise stores, though some international branches and the corporate successor (Foot Locker) continue.