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
   ____________________________________________________________________________
   1. Name and Address of Reporting Person

      Woolworth Corporation
      233 Broadway
      New York, NY  10279
   ____________________________________________________________________________
   2. Date of Event Requiring Statement (Month/Day/Year)
      5/31/96
   ____________________________________________________________________________
   3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
 
   ____________________________________________________________________________
   4. Issuer Name and Ticker or Trading Symbol
      Kids Mart, Inc. (KIDM)
   ____________________________________________________________________________
   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)
 
   ===========================================================================
   TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
   ____________________________________________________________________________
   |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]

   ============================================================================
   TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
     (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
   ____________________________________________________________________________
   1. Title of Derivative Security (Instr. 4)
      1,000,000 shares of Series A Convertible Preferred Stock,
      $.0001 par value ("Preferred Stock")
   ____________________________________________________________________________
   2. Date Exercisable and Expiration Date (Month/Day/Year)
      5/31/96     None
   ____________________________________________________________________________
   3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
      Common Stock, $.0001 par value ("Common Stock")   1,000,000 [See Note 1]
   ____________________________________________________________________________
   4. Conversion or Exercise Price of Derivative Security
      $10.00 [See Note 2]
   ____________________________________________________________________________
   5. Ownership Form of Derivative Security: (D)irect or (I)ndirect (Instr. 5)
      (D)
   ____________________________________________________________________________
   6. Nature of Indirect Beneficial Ownership (Instr. 5)
 
   ============================================================================

 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