WOOLWORTH'S SWAIN SET TO RETIRE

NEW YORK--Edgar J. Swain, president and chief executive officer of F.W. Woolworth Co. since 1993, will retire May 1 after a 41-year career with Woolworth Corp., the parent of the five-and-dime and specialty store division.
Woolworth said it expects to name a successor within 30 to 60 days.
F.W. Woolworth Co. oversees about 1,500 stores, including 430 Woolworth's variety stores and 1,050 specialty stores such as After Thoughts and Carimar jewelry stores, The San Francisco Music Box Co. and Accessory Lady.
Swain, 60, spent his entire retail career with Woolworth. He joined the retailer in 1954 as a store-management trainee in the Los Angeles area and later held various sales, merchandising and management positions, including executive vice president of specialty stores.

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