Deserted Store

Woolworth's president quits

First, F.W. Woolworth Co. (projected 1982 sales: $7.3 billion) decided to lop off its unprofitable Woolco discount stores and to pull out of Britain. Next, Woolworth Chairman Edward Gibbons, 63, died suddenly in October. Then Bruce Allbright, 54, whom Gibbons had hired just one year earlier to run Woolco and the U.S. Woolworth stores, returned to Dayton Hudson Corp. Finally, the upheaval at Woolworth reached a climax last week when its highly regarded president, Richard Anderson, 47, also walked out the door. He was immediately replaced by Harold Sells, 54,...

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