Woolworth

Woolworth, name of two brothers who cofounded the F.W. Woolworth Company, an extensive chain of “5-and-10-cent” stores. Frank Winfield Woolworth (1852–1919) was the principal founder and Charles S. Woolworth (1856–1947) served as vice president and later as chairman of the board. The venture, which began in Utica, N.Y., grew out of the idea that profits could be made by selling a large assortment of goods at fixed, low prices. The company later went on to operate stores in Canada, Germany, France, and Cuba.