Exhibit 99


                              N E W S R E L E A S E



                                            CONTACT:   Peter D. Brown
                                                       Vice President, Treasurer
                                                       and Investor Relations
                                                       Venator Group, Inc.
                                                       (212) 720-4254

                    VENATOR GROUP, INC. ANNOUNCES NAME CHANGE
                              TO FOOT LOCKER, INC.


NEW YORK, NY, November 1, 2001 - Venator Group, Inc. (NYSE: Z), the New
York-based specialty athletic retailer, today announced that it will begin doing
business as Foot Locker, Inc. tomorrow, November 2, 2001. The name change to
Foot Locker, Inc. became official following today's approval by shareholders at
a special meeting held at the Corporate Headquarters in New York City.

To celebrate the inauguration of the new name, Matthew D. Serra, the Company's
President and Chief Executive Officer, is scheduled to ring the bell on the
floor of the New York Stock Exchange to signal the start of tomorrow's trading.
Foot Locker, Inc. will continue to trade under the ticker symbol "Z" and
shareholders need not surrender their stock certificates.

Over the past several years, the Company has divested itself of its non-athletic
businesses. The completion of this divestiture strategy allows the Company to be
totally focused in the athletic retail segment. The Foot Locker, Inc. name
better reflects our athletic identity.

Venator Group is primarily a mall-based specialty athletic retailer that
operates approximately 3,600 athletic retail stores in 14 countries in North
America, Europe and Australia. Through its Foot Locker, Lady Foot Locker, Kids
Foot Locker and Champs Sports retail stores, as well as its direct-to-customer
channel Footlocker.com/Eastbay, the Company is the leading provider of athletic
footwear and apparel.


                 Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements, which reflect
management's current views of future events and financial performance. These
forward-looking statements are based on many assumptions and factors detailed in
the Company's filings with the Securities and Exchange Commission, including the
effects of currency fluctuations, customer demand, fashion trends, competitive
market forces, uncertainties related to the effect of competitive products and
pricing, customer acceptance of the Company's merchandise mix and retail
locations, economic conditions worldwide, the ability of the Company to execute
its business plans effectively with regard to each of its business units, and
the ability of the Company to implement, in a timely manner, the programs and
actions related to the euro issue. Any changes in such assumptions or factors
could produce significantly different results. The Company undertakes no
obligation to update forward-looking statements, whether as a result of new
information, future events, or otherwise.

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