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FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
- -------- Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
J. C. Penney Company, Inc.
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(Last) (First) (Middle)
6501 Legacy Drive
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(Street)
Plano, TX 75024-3698
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(City) (State) (Zip)
*If the Form is filed by more than one
Reporting Person, see Instruction 5(b)(v).
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2. Date of Event Requiring Statement (Month/Day/Year)
November 23, 1998
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Genovese Drug Stores, Inc.
GDXA
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5. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
__X_ Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
(Instr. 4) | Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | (Instr. 5) |
| Owned | Indirect(I) | |
(Instr. 4) (Instr. 5) |
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<S> <C> <C> <C>
No Shares Owned (1) | | | |
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FORM 3 (CONTINUED) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, |
CONVERTIBLE SECURITIES) |
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<S> <C> <C> <C> <C> <C> |
1. Title of Derivative 2. Date Exer- 3. Title and Amount of 4. Conversion 5. Owner- 6. Nature of Indirect |
Security (Instr. 4) cisable and Securities Underlying or Exercise ship Beneficial |
Expiration Derivative Security Price of Form of Ownership |
Date (Instr. 4) Derivative Derivative (Instr. 5) |
(Month/Day/ Security Security: |
Year) Direct |
------------------------------------------------------------ (D) or |
Date Expira- Amount Indirect |
Exer- tion or (I) |
cisable Date Title Number (Instr. 5) |
of |
Shares |
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Explanation of Responses:
(1) The reporting person may be deemed the beneficial owner of greater than 10% of the shares of Common Stock, par value $1.00
per share, of Genovese Drug Stores, Inc. by virtue of the reporting person's shared voting power of such shares. However, no
such shares have been reported on this Form 3 because the reporting person has no pecuniary interest in any of such shares.
J. C. Penney Company, Inc.
By: /s/ Donald A. McKay December 3, 1998
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**Intentional misstatements or omissions of facts constitute Executive Vice President Date
Federal Criminal Violations. **Signature of Reporting Person
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be
manually signed. If space is insufficient,
See Instruction 6 for procedure.
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