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 after his mother's death that Woolworth's trademark concept of the 5-and-10 Cent store, or the "Five-and-Dime," was developed. Accounts on the conception of the five-and-dime differ. Scholar Gail Fenske suggests that Woolworth had heard of a "five-cent counter craze" while questioning his own sales ability at his first job. Jean Maddern Pitrone suggests the idea was conceived after a travelling salesman told Woolworth of stores with the five-cent counter concept in Michigan. Plunkett-Powell suggests the concept was overheard by Woolworth during a discussion between William Moore and a young man who had opened his own cut-rate goods store. Regardless of