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MAY DOMESTIC COMPARABLE STORE SALES DECLINED 0.6 PERCENT AT WOOLWORTH CORPORATION

 MAY DOMESTIC COMPARABLE STORE SALES DECLINED 0.6 PERCENT
 AT WOOLWORTH CORPORATION
 NEW YORK, June 4 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) reported that domestic comparable store sales for the four weeks ended May 30, 1992, declined 0.6 percent from the corresponding prior-year period.
 Total sales (domestic and foreign) for the four-week period declined 0.5 percent to $688 million from $692 million.
 Domestic sales for the four-week period declined 5.1 percent to $368 million from $387 million, and foreign sales, expressed in U.S. dollars, rose 5.3 percent. If foreign exchange rates had remained constant, foreign sales would have increased 3.3 percent and total sales would have declined 1.4 percent.
 For the cumulative seventeen weeks ended May 30, 1992, domestic comparable store sales increased 0.8 percent from the corresponding prior-year period.
 Total sales (domestic and foreign) for the seventeen-week period declined 0.9 percent to $2,823 million from $2,850 million in the corresponding year-earlier period.
 Domestic sales for the seventeen-week period decreased 3.4 percent to $1,617 million from $1,674 million, and foreign sales, expressed in U.S. dollars, increased 2.5 percent. If foreign exchange rates had remained constant, foreign sales would have increased 2.7 percent and total sales would have decreased 0.9 percent.
 Domestic sales for the 1992 reporting periods reflect the elimination of sales of some 900 stores which are part of the company's accelerated store-redeployment program. Sales generated by those stores in 1991 are reflected in the 1991 reporting periods.
 Harold E. Sells, chairman and chief executive officer, said, "Cooler-than-normal weather in the eastern United States and Canada adversely affected sales of seasonal merchandise."
 -0- 6/4/92
 /CONTACT: Frances E. Trachter of Woolworth, 212-553-2394/
 (Z) CO: Woolworth Corporation ST: New York IN: REA SU:


SB -- NY017 -- 6903 06/04/92 09:13 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 4, 1992
Words:310
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