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Federated to realign by divesting in six duplicate stores in 2006

25
Oct '05
Corporate offices in Cincinnati and New York Federated Department Stores Inc said it has identified an additional six duplicate stores in Arizona, California, Indiana, Kentucky and New Hampshire it intends to divest commencing in 2006 as a result of its merger with The May Department Stores Company.

Federated previously announced 76 locations it plans to divest beginning in 2006 because duplicative Macy's and May Company stores operate in the same mall or shopping center. Also as previously announced, four May Company locations will be closed for renovation in 2006 and later re-opened as Bloomingdale's.

The divestiture list brings the total to 82, with total 2004 sales of $2.2 billion. The six added to the list are:

Macy's in Wesleyan Park Plaza in Owensboro, KY (55,000 square feet, 55 employees, opened in 1987).

Macy's in Rockingham Park Mall in Salem, NH (159,000 square feet, 134 employees, opened in 1994).

Macy's in Tucson Mall in Tucson, AZ (138,000 square feet; 186 employees, opened in 1982).
Macy's apparel store in The Oaks in Thousand Oaks, CA (149,000 square feet; 57 employees; opened in 1983).

Marshall Field's in University Park Mall in Mishawaka, IN (123,000 square feet, 144 employees, opened in 1980).

Robinsons-May south store in North County Fair in Escondido, CA (116,000 square feet; 280 employees; opened in 1986).

As initially described in Federated's news release of July 28, 2005,the company continues to review its portfolio of stores and may make additional adjustments.


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