At January 31, 1998 and January 25, 1997, long-term debt, exclusive of current installments, consisted of the following:

	January 31,	January 25,
In Thousands	1998	1997
Real estate mortgages, interest at 10.48% maturing November 1, 1998	$      -	$ 22,391
Equipment notes, interest at 11% to 11.25% maturing
December 12, 2000 to December 30, 2001	1,127	2,135
General corporate debt:
Medium term notes, interest at 5.87% to 7.97%, $15 million maturing on
October 21, 2003 and $5 million on September 20, 2004	20,000	20,000
6 5/8% unsecured notes, maturing June 15, 2000	100,000	100,000
7% unsecured notes, maturing June 15, 2005 (effective interest rate of 7.02%
after reduction of the unamortized debt discount of $103,000 and $116,000
in fiscal 1998 and 1997, respectively)	99,897	99,884
Total general corporate debt	219,897	219,884
Long-term debt, exclusive of current installments	$221,024	$244,410

The aggregate maturities of long-term debt, exclusive of current installments, at January 31, 1998 are as follows:

		General
	Equipment	Corporate
In Thousands	Notes	Debt	Total
Fiscal Year
2000	$ 697	$      -	$   697
2001	430	100,000	100,430
2002	-	-	-
2003	-	-	-
Later years	-	119,897	119,897
Aggregate maturities of long-term debt, exclusive of current installments	$1,127	$219,897	$221,024

Real estate mortgages are collateralized by land and buildings. While the parent company is not directly obligated with respect to the real estate mortgages, it or a wholly-owned subsidiary has either guaranteed the debt or has guaranteed a lease, if applicable, which has been assigned as collateral for such debt.
  On September 16, 1996, pursuant to a call for redemption, the Company prepaid $88.8 million of its 9 ¹/2% sinking fund debentures. The Company recorded an after-tax extraordinary charge of $2.9 million, or $.02 per common share, related to the early retirement of this debt. The Company paid the outstanding balance of $8.5 million during fiscal 1998 utilizing an optional sinking fund payment under the indenture.
  In June 1995, the Company filed a shelf registration statement with the Securities and Exchange Commission which provided for the issuance of up to $250 million of long-term debt. This shelf registration statement was replaced by a new shelf registration statement filed in fiscal 1997 which currently provides for the issuance of up to $600 million of debt, common stock or preferred stock. In June 1995, the Company issued $200 million of long-term notes under the original registration statement; $100 million of 6 5/8% notes due June 15, 2000 and $100 million of 7% notes due June 15, 2005. The proceeds were used in part to repay short-term borrowings and for general corporate purposes, including the repayment of scheduled maturities of other outstanding long-term debt and for new store and other capital expenditures.
  On November 17, 1995, the Company entered into an unsecured $875 million bank credit agreement under which the Company borrowed $375 million on a term loan basis to fund the cash portion of the Marshalls purchase price. During the fourth quarter of the fiscal year ended January 25, 1997, the Company prepaid the outstanding balance of the $375 million term loan and recorded an after-tax extraordinary charge of $2.7 million, or $.02 per share, for the early retirement of this debt. The agreement also allowed the Company to borrow up to an additional $500 million on a revolving loan basis to fund the working capital needs of the Company. In September 1997, the Company replaced this $500 million revolving credit agreement with a new five year $500 million revolving credit facility. The Company recorded an extraordinary charge of $1.8 million associated with the write-off of deferred financing costs of the former agreement. The new agreement provides for reduced commitment fees on the unused portion of the line, as well as lower borrowing costs and has certain financial covenants which include a minimum net worth requirement, and certain leverage and fixed charge covenants.
  As of January 31, 1998, all $500 million of the revolving credit facility was available for use. Interest is payable on borrowings at rates equal to or less than prime. The revolving credit facility capability is used as backup to the Company's commercial paper program. The Company had no short-term borrowings under this facility or its commercial paper program during fiscal 1998. Excluding the Company's foreign subsidiaries, the weighted average interest rate on the Company's short-term borrowings under the former agreement was 5.81% and 6.25% in fiscal 1997 and 1996, respectively. The Company does not have any compensating balance requirements under these arrangements. The Company also has C$30 million of committed lines for its Canadian operation, all of which were available as of January 31, 1998.
  In connection with the $875 million bank credit agreement, during fiscal 1996 the Company prepaid its $45 million real estate mortgage on the Chadwick's fulfillment center and incurred an extraordinary after-tax charge of $3.3 million in fiscal 1996 on the early retirement of this debt.