FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: |
| 3235-0104|
|EXPIRES: |
| APRIL 30, 1997 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE|
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
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
Woolworth Corporation
233 Broadway
New York, NY 10279
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2. Date of Event Requiring Statement (Month/Day/Year)
5/31/96
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
____________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
Kids Mart, Inc. (KIDM)
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5. RELATIONSHIP OF REPORTING PERSON TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
(X ) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
_____________________________________
___________________________________________________________________________
6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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|1. TITLE OF SECURITY|2. AMOUNT OF |3. OWNERSHIP |5. NATURE OF INDIRECT |
| (INSTR. 4) | SECURITIES | FROM | BENEFICIAL OWNERSHIP|
| | BENEFICIALLY| (D)IRECT | (INSTR. 5) |
| | OWNED | OR | |
| | (INSTR. 4) | (I)NDIRECT| |
| | | (INSTR. 5)| |
|____________________|_______________|_____________|_______________________|
[TYPE ENTRIES HERE]
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
1,000,000 shares of Series A Convertible Preferred Stock,
$.0001 par value ("Preferred Stock")
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2. Date Exercisable and Expiration Date (Month/Day/Year)
5/31/96 None
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, $.0001 par value ("Common Stock") 1,000,000 [See Note 1]
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4. Conversion or Exercise Price of Derivative Security
$10.00 [See Note 2]
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5. Ownership Form of Derivative Security: (D)irect or (I)ndirect (Instr. 5)
(D)
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
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EXPLANATION OF RESPONSES:
1 Subject to certain anti-dilution adjustments.
2 Each share of Preferred Stock is convertible
into a number of shares of Common Stock equal
to (i) $10.00 divided by (ii) the conversion
price of $10.00, as it may be adjusted from
time to time.
WOOLWORTH CORPORATION
By: /s/ Gary M. Bahler June 10,1996
_____________________________ _______________________
** SIGNATURE OF REPORTING PERSON DATE
Name: Gary M. Bahler
Title: Vice President
_____________________________
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
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 PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE