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WOOLWORTH CORPORATION EXPLORING ALTERNATIVES REGARDING ITS OPERATIONS IN GERMANY

 WOOLWORTH CORPORATION EXPLORING
 ALTERNATIVES REGARDING ITS OPERATIONS IN GERMANY
 NEW YORK, Nov. 6 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) today announced that it was exploring various alternatives with respect to its general merchandise and specialty store operations in Germany.
 These alternatives may include the disposition of some or all of those operations, other than the company's Foot Locker athletic footwear and apparel stores, to one or more third parties. No decision with respect to any of such alternatives has been made, and there can be no assurance that any transaction involving the disposition of such operations will be agreed to or consummated. The company is being advised in these matters by Merrill Lynch & Co. and Salomon Brothers Inc.
 Woolworth Corporation, through its subsidiaries, operates more than 500 stores in Germany, including over 320 Woolworth general merchandise stores and more than 180 specialty stores, including Rubin costume jewelry, handbags and accessories shops; Moderna and Der Schuh family shoe stores; and Lady Plus apparel shops for larger-sized women.
 The company also operates 134 Foot Locker stores in seven countries in Europe, including Germany, Belgium, England, France, Italy, Luxembourg and the Netherlands. The company previously announced plans to be operating at least 1,000 Foot Locker stores throughout Europe by the year 2000. These plans remain in force.
 New York-based Woolworth Corporation, with annual revenues of approximately $10 billion, operates nearly 8,900 stores in the United States, Canada, Mexico, Australia and in seven European countries -- including some 7,300 specialty stores in over 40 retail formats and more than 1,600 general merchandise stores.
 -0- 11/6/92
 /CONTACT: Frances E. Trachter of Woolworth, 212-553-2394/
 (Z) CO: Woolworth Corporation ST: New York IN: REA SU:


CK -- NY016 -- 8095 11/06/92 10:08 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 6, 1992
Words:291
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