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EXHIBIT 99
Independent Accountants' Review Report
The Board of Directors and Shareholders
Venator Group, Inc.:
We have reviewed the accompanying condensed consolidated balance sheets of
Venator Group, Inc. and subsidiaries as of April 29, 2000 and May 1, 1999, and
the related condensed consolidated statements of operations, comprehensive
income and cash flows for the thirteen week periods ended April 29, 2000 and May
1, 1999. These condensed consolidated financial statements are the
responsibility of Venator Group, Inc. management.
We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data and making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial statements taken as a
whole. Accordingly, we do not express such an opinion.
Based on our reviews, we are not aware of any material modifications that should
be made to the condensed consolidated financial statements referred to above for
them to be in conformity with generally accepted accounting principles.
We have previously audited, in accordance with generally accepted auditing
standards, the consolidated balance sheet of Venator Group, Inc. and
subsidiaries as of January 29, 2000, and the related consolidated statements of
operations, comprehensive income (loss), shareholders' equity, and cash flows
for the year then ended (not presented herein); and in our report dated March 8,
2000, we expressed an unqualified opinion on those consolidated financial
statements. In our opinion, the information set forth in the accompanying
condensed consolidated balance sheet as of January 29, 2000, is fairly stated,
in all material respects, in relation to the consolidated balance sheet from
which it has been derived.
/s/ KPMG LLP
New York, New York
May 18, 2000
