EXHIBIT 23.3     
 
                         INDEPENDENT AUDITORS' CONSENT
   
  We consent to the use in this Pre-Effective Amendment No. 1 to Registration
Statement No. 333-14051 on Form S-4 of Cabot Noble, Inc. of our report on the
consolidated financial statements of Phar-Mor, Inc. and subsidiaries ("Phar-
Mor") dated August 16, 1996 (October 9, 1996 as to Note 20), appearing in the
Joint Proxy Statement/Prospectus, which is part of this Registration
Statement. Our report expresses an unqualified opinion on the consolidated
balance sheets of Phar-Mor as of June 29, 1996 and September 2, 1995 and the
related consolidated statements of operations, changes in stockholders' equity
(deficiency) and cash flows for the forty-three weeks ended June 29, 1996. Our
report expresses a qualified opinion on the consolidated balance sheet of
Phar-Mor as of July 1, 1995 and the related statements of operations, changes
in stockholders' equity (deficiency) and cash flows for the nine weeks ended
September 2, 1995, the fifty-two weeks ended July 1, 1995 and the fifty-three
weeks ended July 2, 1994 as reliable accounting records and sufficient
evidential matter to support the acquisition cost of property and equipment
were not available. Also, our report includes explanatory paragraphs relating
to 1) the comparability of financial information prior to September 2, 1995 as
a result of Phar-Mor's emergence from bankruptcy and the creation of a new
entity and 2) Phar-Mor entering into an agreement with ShopKo Stores, Inc.,
subject to certain conditions, to combine the respective companies under Cabot
Noble, Inc.     
 
  We also consent to the reference to us under the heading "Experts" in such
Joint Proxy Statement/Prospectus.
 
Deloitte & Touche llp
Pittsburgh, Pennsylvania
   
January 10, 1997