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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): January 25, 2000
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VENATOR GROUP, INC.
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(Exact name of registrant as specified in its charter)
New York No. 1-10299 13-3513936
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
233 Broadway, New York, New York 10279-0003
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 553-2000
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Item 5. Other Events.
On January 25, 2000, the Registrant announced a series of steps designed to
further reduce its cost structure and streamline its corporate and divisional
operations to better position itself in 2000 and beyond. The Registrant plans to
(i) close a total of 358 stores that are not meeting performance targets, (ii)
consolidate the managements of Kids and Lady Foot Locker into one organization
and reduce the worldwide Foot Locker divisional staff; (iii) close the Champs
Sports distribution center located in Maumelle, Arkansas and consolidate its
operation with the Foot Locker facility located in Junction City, Kansas, and
(iv) reduce sales support and corporate staff by over 30 percent and move the
corporate offices into its Foot Locker headquarters location in mid-town
Manhattan. The after-tax restructuring charge associated with this announcement
is expected to total $53 million, or $0.39 per share, which will be included in
reported results of the fourth quarter. (See Exhibit 99, which, in its entirety,
is incorporated herein by reference.)
Item 7. Financial Statements and Exhibits.
(c) Exhibits
In accordance with the provisions of Item 601 of Regulation S-K, an index
of exhibits is included in this Form 8-K on page 3.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned being hereunto duly authorized.
VENATOR GROUP, INC.
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(Registrant)
Date: February 2, 2000 By: /s/ Robert W. McHugh
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Robert W. McHugh
Vice President and
Chief Accounting Officer
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VENATOR GROUP, INC.
INDEX OF EXHIBITS
FURNISHED IN ACCORDANCE
WITH THE PROVISIONS OF
ITEM 601 OF REGULATION S-K
Exhibit No. in Item 601
of Regulation S-K Description
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99 News Release dated January 25, 2000
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