F. W. Woolworth Company F. W. Woolworth Company The F. W. Woolworth Company (often referred to as Woolworth's or Woolworth) was a retail company and one of the original pioneers of the five-and-dime store. It was arguably the most successful American and international five-and-dime business, setting trends and creating the modern retail model that stores follow worldwide today. The first Woolworth store was opened by Frank Winfield Woolworth on February 22, 1878, as "Woolworth's Great Five Cent Store" in Utica, New York. Though it initially appeared to be successful, the store soon failed. When Woolworth searched for a new location, a friend suggested Lancaster,
Frank Winfield Woolworth finished his schooling at the age of sixteen, yet with only basic knowledge and no experience he was unfit to begin working in any legitimate store. Undeterred, he applied to many shops in the area, every time receiving a resounding "No." Woolworth attended a business college for two terms in Watertown, New York, after having received a loan from his mother. In 1873, Woolworth worked as a stock boy in a general store called Augsbury & Moore's Drygoods in Watertown. His first experiences at Augsbury & Moore's would serve as the starting point to his own business venture and innovations.