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F.W. WOOLWORTH CO. TO ACQUIRE 89 JOAN BARI STORES

 F.W. WOOLWORTH CO. TO ACQUIRE 89 JOAN BARI STORES
 NEW YORK, Aug. 6 /PRNewswire/ -- Woolworth Corporation (NYSE: Z)


announced today that its wholly owned subsidiary, F.W. Woolworth Co., has signed an agreement with Edison Brothers Stores, Inc. of St. Louis to acquire the leases, fixtures and inventory of 89 Joan Bari and Cabaret accessories boutiques. Terms of the transaction were not announced.
 F.W. Woolworth Co. will assume operation of the stores immediately upon the closing of the transaction, expected in September. The company intends to operate the stores principally as Afterthoughts or Carimar, the company's popular costume jewelry, handbags and accessories boutiques.
 Robert G. Lynn, president and chief executive officer of F.W. Woolworth Co., said, "This acquisition enables us to build on our substantial position in the fashion-first jewelry and accessory segment of the market. Afterthoughts and Carimar are strong names, and we expect that this acquisition will help them grow even stronger."
 The 89 stores being acquired average about 1,000 square feet each, and are located in major malls throughout the United States.
 The Afterthoughts and Carimar costume jewelry, handbags and accessories chain, based on a concept developed by F.W. Woolworth Co., was started in 1985. The chain has since grown to some 540 stores today, located in major malls in all 50 states.
 F.W. Woolworth Co. currently operates some 780 specialty stores throughout the United States. In addition to the Afterthoughts and Carimar boutiques, there are 24 The Best of Times stores, featuring brand-name watches and clocks and 115 stores in The San Francisco Music Box Company chain, which specializes in musical giftware. F.W. Woolworth Co. also operates over 900 Woolworth and Woolworth Express general merchandise stores throughout the United States.
 Woolworth Corporation, with 1991 revenues of approximately $10 billion, currently operates some 8,600 stores worldwide, including some 1,600 general merchandise stores and some 7,000 specialty stores in more than 40 different formats in 11 countries -- the United States, Canada, Mexico, Germany, England, Belgium, Italy, the Netherlands, Luxembourg, France and Australia.
 -0- 8/6/92
 /CONTACT: Frances E. Trachter, 212-553-2394, for Woolworth/
 (Z EBS) CO: Woolworth Corporation; F.W. Woolworth Co. ST: New York, Missouri IN: REA SU: TNM


CK -- NY061 -- 7586 08/06/92 12:14 EDT
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Date:Aug 6, 1992
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