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,
F. W. Woolworth Building (Watertown, New York) 1879. The Smith and Moore store later became a member of the Woolworth chain. In 1916, Woolworth purchased the American Building in Watertown, which housed the store in which he began his career. Woolworth planned to demolish this structure, and build a grander building in its place. Woolworth's death in 1919 initially halted these plans, but the Woolworth Corporation eventually decided to go ahead with his plans, and the new six story Woolworth Building opened its doors in 1921. Woolworth's Department Store occupied the building until 1971, when the store was moved into a modern facility. Many shops occupied the