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                                                                     EXHIBIT 15


                           Accountants' Acknowledgment
                           ---------------------------



Woolworth Corporation
New York, New York

Board of Directors:

Re:  Registration  Statements Numbers 33-10783,  33-91888,  33-91886,  33-97832,
     333- 07215 and  333-21131 on Form S-8 and Numbers  33-43334 and 33-86300 on
     Form S-3

With  respect  to  the  subject  registration  statements,  we  acknowledge  our
awareness  of the use therein of our report dated August 14, 1997 related to our
review of interim financial information.

Pursuant to Rule 436(c)  under the  Securities  Act of 1933,  such report is not
considered  a part of a  registration  statement  prepared  or  certified  by an
accountant or a report prepared or certified by an accountant within the meaning
of Sections 7 and 11 of the Act.




/s/ KPMG Peat Marwick LLP
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New York, New York
September 4, 1997