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APRIL SALES ROSE 0.8 PERCENT AT WOOLWORTH CORPORATION

 NEW YORK, May 6 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) reported today that total sales for the four weeks ended May 1, 1993, rose 0.8 percent to $740 million from $734 million in the comparable year-earlier period.
 Domestic sales for the four-week period increased 1.0 percent to $427 million from $423 million, and foreign sales, expressed in U.S. dollars, rose 0.6 percent. If foreign exchange rates had remained constant, foreign sales would have increased 2.8 percent and total sales would have increased 1.8 percent. Domestic comparable store sales for the four-week period declined 2.3 percent.
 For the cumulative thirteen weeks ended May 1, total sales rose 1.4 percent to $2,165 million from $2,135 million in the corresponding year-earlier period.
 Domestic sales for the thirteen-week period increased 0.9 percent to $1,264 million from $1,252 million, and foreign sales, expressed in U.S. dollars, rose 2.0 percent. If foreign exchange rates had remained constant, foreign sales would have increased 4.9 percent and total sales would have increased 2.6 percent. Domestic comparable store sales for the thirteen-week period declined 2.4 percent.
 Harold E. Sells, chairman and chief executive officer, said, "Weak economic conditions and low consumer confidence characterize the principal markets in which we do business. As a result, sales for April were very disappointing."
 "With the third consecutive month of disappointing sales," Sells continued, "the company expects that first quarter earnings will be considerably below last year's first quarter."
 Sells added, "Even under the best economic conditions, first quarter earnings represent a very small percentage of annual earnings. Therefore, we are hopeful that with a rebound of consumer confidence in the United States, we will see improved results for the entire year."
 -0- 5/6/93
 /CONTACT: Frances E. Trachter of Woolworth Corporation, 212-553- 2394/
 (Z)


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

TS -- NY021 -- 5229 05/06/93 08:51 EDT
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Publication:PR Newswire
Date:May 6, 1993
Words:328
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