Venator Sees Good Times Ahead

The Venator Group (New York), the former Woolworth Corp., has forecast a 15 to 20 percent rise in profits in 2001 for its nearly 5000 specialty stores around the world, led by Foot Locker. The retail organization also owns The Northern Group of store chains (Northern Reflections, Northern Traditions, Northern Getaway and Northern Elements) and Champs Sports stores, plus its Eastbay catalog operation for athletic apparel. However, the company also said it would pursue plans to sell the Northern Group, a sale that would lead to an after-tax charge of as much as $220 million in its fourth fiscal quarter.