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Federated to realign by divesting in six duplicate stores in 2006
25 Oct '05
3 min read
Federated also said it intends to begin 'going out of business' sales on January 29, 2006, in malls where the company operates 32 duplicative store locations the company already announced it plans to divest or convert to Bloomingdale's.
Additional locations announced for divestiture or conversion will continue to operate, subject to agreements with five states attorneys general and/or lease and operating agreements. Some of these remaining stores on the divestiture list may begin 'going out of business' sales in early 2006 as requirements and covenants are resolved.
Once duplicate stores are divested, the remaining Macy's in that location will include employees from both locations. The company expects to offer employment to all management personnel in good standing from both stores and to offer positions to the vast majority of associates.
Nation's premier retailer Federated, with 2004 sales of more than $15.6 billion. With the May Company's 487 department stores and 710 bridal and formalwear stores in 47 states, the District of Columbia and Puerto Rico, Federated operates nearly 950 department stores and more than 700 bridal and formalwear stores in 49 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, The Jones Store, David's Bridal, After Hours Formalwear and Priscilla of Boston.
Additional locations announced for divestiture or conversion will continue to operate, subject to agreements with five states attorneys general and/or lease and operating agreements. Some of these remaining stores on the divestiture list may begin 'going out of business' sales in early 2006 as requirements and covenants are resolved.
Once duplicate stores are divested, the remaining Macy's in that location will include employees from both locations. The company expects to offer employment to all management personnel in good standing from both stores and to offer positions to the vast majority of associates.
Nation's premier retailer Federated, with 2004 sales of more than $15.6 billion. With the May Company's 487 department stores and 710 bridal and formalwear stores in 47 states, the District of Columbia and Puerto Rico, Federated operates nearly 950 department stores and more than 700 bridal and formalwear stores in 49 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, The Jones Store, David's Bridal, After Hours Formalwear and Priscilla of Boston.
Federated Department Stores Inc
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