F. W. Woolworth Company Co. had the first five-and-dime stores, which sold discounted general merchandise at fixed prices, usually five or ten cents, undercutting the prices of other local merchants. Woolworth, as the stores popularly became known, was one of the first American retailers to put merchandise out for the shopping public to handle and select without the assistance of a sales clerk. Earlier retailers had kept all merchandise behind a counter and customers presented the clerk with a list of items they wished to buy. After working in Augsbury and Moore dry goods store in Watertown, New York, Frank Winfield Woolworth obtained credit
F. W. Woolworth Company corporate entity under the name "F. W. Woolworth Company" in a merger of all 596 stores. The stock flotation raised over $30 million for the five founders of the merged chains. They all swallowed their pride and accepted Frank's name above the door, with Frank as President of the new Corporation. Sum Woolworth, Fred Kirby, Seymour Knox, Earle Charlton, and William Moore each became a Director and Vice-President. One of the "friendly rival" predecessor chains included several stores initially opened as Woolworth & Knox stores starting as early as September 20, 1884 as well as S. H. Knox & Co.