Nation's leading department store retailer Federated Department Stores Inc (FDS) announced it will add about 330 Macy's locations nationwide in 2006 as it converts regional department store nameplates to be acquired through its pending merger with The May Department Stores Company.
Macy's emerged as a premier national retailer in March 2005, when they changed Federated's regional department store nameplates," said Terry J. Lundgren, Federated's chairman, president and chief executive officer. "They will continue that process in 2006 by converting many of May Company's regional store nameplates to Macy's.
With these additions, Macy's will operate about 730 stores, representing virtually every major U.S. market. Customers will benefit from having the best of both worlds - the national reach of the Macy's brand, along with community commitment and local focus for which May Company and Federated are well known.
They have chosen to proactively announce their decisions as they are made so that their intentions are clear, Lundgren added.
"This decision to expand the Macy's brand was based on careful study and new research on customer preferences in May Company communities."
"Customers have told us they want the fashion and affordable luxury they find in Macy's stores. They have strengthened the Macy's brand with distinctive assortments, simplified pricing, an improved shopping experience and enhanced marketing. With this expanded geographic coverage, they now will be positioned to nationally advertise the Macy's brand," he said.
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