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RETAILING

Woolworth Posts Loss for ’93: Woolworth Corp. said it will report fourth-quarter and full-year losses because of larger-than-expected charges stemming from the proposed sale of its Woolco Canadian discount store division to Wal-Mart Stores Inc. Woolworth said it expects to post a loss of $46 million for the quarter ended Jan. 29, contrasted with a profit of $165 million in the year-ago quarter. For the full year ended Jan. 29, the company had a loss of $495 million compared with profits of $280 million in the previous year. Sales declined to $9.63 billion from $9.96 billion. Woolworth is restructuring its operations to move away from its five-and-dime variety stores and focus more on its specialty store chains, such as Foot Locker athletic shoe shops, Champs sporting goods centers and Northern Reflections clothing stores.


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