ROANOKE TIMES 
                      Copyright (c) 1997, Roanoke Times

DATE: Tuesday, January 14, 1997              TAG: 9701140062
SECTION: BUSINESS                 PAGE: B6   EDITION: METRO 

IN BUSINESS

The Limited to shut 200 stores

COLUMBUS, Ohio - Faced with weak sales and depressed earnings, the Limited Inc. on Monday announced a management shakeup and said it would close 200 stores this year.

The Columbus, Ohio-based apparel retailer, which has reported weaker-than-expected December sales at its Express division, declined to say how many employees would be laid off or what stores would be shuttered.

The Limited operates 3,950 stores through Express, Lerner New York, Lane Bryant, Limited Stores, Henri Bendel, Structure, Limited Too and Galyan's. A related company, Intimate Brands, operates 1,611 stores and distributes apparel internationally through the Victoria's Secret catalog.

-Associated Press

T-bill rates mixed

The Treasury Department on Monday sold $11.6 billion in three-month bills at an average discount rate of 5.04 percent, up from 5.02 percent last week. Another $11.6 billion was sold in six-month bills at an average rate of 5.11 percent, unchanged.

The three-month bill rate was the highest since 5.08 percent Dec. 30. The six-month bill rate was the highest since 5.15 percent Oct. 28.

The average yield for one-year Treasury bills, the most popular index for adjustable-rate mortgages, rose to 5.61 percent last week from 5.55 percent.

-Associated Press

Briefly

* First Union Corp. said Monday it may repurchase from time to time up to 25 million shares of its common stock. The transactions, which may be large, would be based on the bank's assessment of its capital and liquidity, the market price of the stock and other factors. The bank also said Monday it would donate $50,000 to the Big Brothers/Big Sisters program in the Washington area in lieu of sponsoring a presidential inaugural ball.

* MainStreet BankGroup Inc. has formed MainStreet Trust Co. as a wholly owned national subsidiary. The Martinsville-based company until now had offered trust services through its affiliated banks. These accounts have been transferred to the new trust company. Mark J. Wenick, former senior vice president at Bank One Trust Co. in Ohio, is chairman of the trust company, which manages about 800 customer accounts with assets of $640 million.

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