WOLVERINE &lt;WWW> TO SELL TWO SUBSIDIARIES

  Wolverine World Wide Inc said
  it signed a letter of intent to sell to an investment group two
  subsidiaries, Kaepa Inc, an athletic footwear maker, and its
  international marketing arm, Kara International Inc.
      Terms were not disclosed.
      Wolverine said the action continues the restructuring
  operation begun last July to make the company more competitive
  and profitable. Wolverine said it will concentrate its effort
  in the athletic footwear market in its Brooks footwear
  division.
      Wolverine said it expects "favorable results in the second
  half as a result" of its restructuring. In 1986 it said
  restructuring helped improve its financial capabilities.
      The company reported a 12.6 mln dlr loss, or 1.75 dlrs a
  share, in 1986 due largely to a 9.0 mln dlr restructuring
  charge and a 4.0 mln dlr inventory evaluation readjustment
  taken in the second quarter.
      Since that time, it has sold two small retail operations,
  closed and consolidated five domestic footwear factories and
  closed about 15 retail locations.
  

