Sponsorships Advertising Marketing

WOOLWORTH SHAREHOLDERS DEFEAT PLAN TO SELL SPORTS UNITS

6.14.1996

     Woolworth Corp. shareholders "easily defeated" a proposal to
spin off the company's sports-related stores, which include Foot
Locker and Champs, according to the WALL STREET JOURNAL.  About
85% of the votes cast were against the proposal made by Greenway
Partners LP.  Woolworth management had urged defeat of the
proposal, saying they preferred to expand "sound businesses" like
their athletic-shoe stores (Laura Bird, WALL STREET JOURNAL,
6/14).  Greenway controls 6.1% of Woolworth stock (THE DAILY).

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