Sponsorships Advertising Marketing

WOOLWORTH CONSIDERING OFFER TO SPIN-OFF FOOT LOCKER

1.23.1996

     Woolworth stock was up 1 1/8 points to 11 yesterday after
the company announced "it is considering a spin-off to
shareholders of its athletic footwear and apparel unit,"
according to Paul Kangas on PBS' "Nightly Business Report" (PBS,
1/22).  This morning, the WALL STREET JOURNAL reports that
Woolworth shareholder Greenway Partners L.P., a New York
investment company run by Alfred Kingsley, submitted a "non-
binding" spin-off proposal for Woolworth's Foot Locker and
apparel divisions.  Woolworth officials said they will evaluate
the proposal and "respond to it at the appropriate time" (Laura
Bird, WALL STREET JOURNAL, 1/23).

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