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,
Charles Sumner Woolworth German subsidiary, as National Socialist Party nationalism and anti-American sentiment grew stronger. The directors were somewhat perplexed by the situation, because of the high level of Woolworth investment in Germany. Woolworth's had a sizable workforce at its large warehouse and shipping depot in Sonneberg, Germany. New laws were passed in Germany which prevented profits within Germany from leaving Germany. Essentially, the "F. W. Woolworth CO GMBH" became an entity on its own. The Woolworth Company took a $2 million financial hit to profits, yet the executives tried to stay optimistic that the situation would resolve itself. As war ensued, the