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WOOLWORTH CORPORATION TO ACQUIRE ACCESSORY LADY CHAIN

 NEW YORK, Sept. 17 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) announced today that its wholly owned subsidiary, F.W. Woolworth Co., has agreed to acquire the 114-store Accessory Lady chain of accessories boutiques from Melville Corporation (NYSE MES). Terms of the transaction, expected to close in October, were not announced.
 Edgar J. Swain, president of F.W. Woolworth Co., said, "The Accessory Lady chain, when added to our existing Afterthoughts chain, will enable us to broaden the scope of our coverage of the women's accessories market."
 The Accessory Lady stores will be operated, under that name, by the specialty store division of F.W. Woolworth Co., which also operates the Afterthoughts chain of costume jewelry, handbags and accessories boutiques, under the names Afterthoughts, Carimar, Cabaret, Joan Bari and Etcetera. These stores, which focus primarily on younger, trend- conscious women, are located in major malls in all 50 states, Puerto Rico and the U.S. Virgin Islands.
 The Accessory Lady stores, averaging about 1,800 square feet each, are also in malls, primarily in the eastern half of the United States. The Accessory Lady chain, offering costume jewelry, handbags, watches, hairgoods and other accessories, will focus on moderate- to upper- moderate-income women, ages 26 through 50.
 With the acquisition of the Accessory Lady stores, F.W. Woolworth Co. will operate over 900 stores selling costume jewelry, handbags and accessories.
 The specialty store division of F.W. Woolworth Co. also operates 45 The Best of Times stores, featuring brand-name watches and clocks, and 159 stores in The San Francisco Music Box Company chain, which specializes in musical giftware. F.W. Woolworth Co. also operates some 900 general merchandise stores and 26 The Rx Place deep-discount drug stores.
 Woolworth Corporation, with 1992 revenues of approximately $10 billion, is a leading multinational retailer with approximately 9,000 stores in more than 40 different formats worldwide. The stores are located in 12 countries -- the United States, Canada, Mexico, Germany, England, Belgium, Italy, the Netherlands, Luxembourg, France, Spain and Australia.
 -0- 9/17/93
 /CONTACT: Frances E. Trachter, 212-553-2394, for Woolworth/
 (Z MES)


CO: F.W. Woolworth Co.; Melville Corporation ST: New York IN: REA SU: TNM

CK -- NY006 -- 2993 09/17/93 10:08 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
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