Frank Winfield Woolworth New York, to John Hubbell Woolworth (1821–1907) and Fanny Woolworth (née McBrier; 1832–1878), and had a brother, entrepreneur Charles Sumner Woolworth (1856–1947). His parents, John and Fanny Woolworth, were devout Methodists and sympathetic to the Northern side during the Civil War – they raised their two sons, Frank Winfield and Charles Sumner, accordingly. At the age of four, Woolworth told his parents that one day he would become one of the peddlers that sometimes came calling; he and Charles would play "store"; Frank would set up merchandise to be sold to his brother. As was common at the time, Woolworth
F. W. Woolworth Company closed. Amid the decline of the signature stores, Woolworth began focusing on the sale of athletic goods. On January 30, 1997, the company acquired the mail order catalog athletic retailer Eastbay. On March 17, 1997, Wal-Mart replaced Woolworth's as a component of the Dow Jones Industrial Average. Analysts at the time cited the lower prices of the large discount stores and the expansion of supermarket grocery stores – which had begun to stock merchandise also sold by five-and-dime stores – as contributors to Woolworth's decline in the late 20th century. On July 17, 1997, Woolworth's closed its remaining department stores