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WOOLWORTH CORPORATION BUDGETS $390 MILLION CASH CAPITAL SPENDING IN 1993

 NEW YORK, March 16 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) plans cash capital spending of $390 million in the year ending Jan. 29, 1994, announced Charles T. Young, senior vice president - finance. This amount, expected to be generated from internal sources, will be used principally to finance Woolworth's continuing expansion of its specialty store operations, he said.
 Speaking today at the Merrill Lynch-sponsored seminar on Modes of Creative Retailing, Young said that the company plans to open approximately 800 stores during 1993, and that nearly 90 percent of these new stores will be specialty units.
 After taking store closings into account, the company expects to be operating close to 9,600 stores worldwide at the end of 1993, Young stated. This will represent a net increase over the current number of stores of nearly 7 percent, he said.
 Woolworth's specialty store expansion will focus on its Foot Locker chain of athletic footwear and apparel stores, as well as four other high-growth specialty formats: Lady Foot Locker stores, featuring women's athletic footwear and apparel; Northern Reflections shops, offering women's casual sportswear; Champs Sports stores, specializing in athletic footwear, apparel and equipment; and the Afterthoughts and Carimar boutiques, featuring women's costume jewelry, handbags and accessories.
 In addition, the company's new World Foot Locker format is expected to grow from the two opened this past year -- in Freehold, N.J., and Dallas, Texas -- to a total of at least 25 stores before the end of the year, Young stated. He added that, in future years, the company plans to open as many as 50 to 75 World Foot Locker stores each year, and sees a potential for a total of as many as 300 to 600 such stores.
 Woolworth Corporation operates more than 1,600 general merchandise stores and nearly 7,400 specialty stores in more than 40 different retail formats in 12 countries.
 -0- 3/16/93
 /CONTACT: Roy L. Garofalo of Woolworth, 212-553-2532/
 (Z)


CO: Woolworth Corporation ST: New York IN: REA SU:

GK -- NY058 -- 6633 03/16/93 14:48 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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