LYCOS RETRIEVER 
May Department Stores: Federated Department Stores
built 606 days ago
Now encompassing divisions that include Macy's, Bloomingdale's, Rich's, Burdine's, The Bon Marche, Goldsmith's, Lazarus and Sterns, Cincinnati-based Federated Department Stores emerged from Chapter 11 in 1992 to command some 12 percent of the market. Stein notes that, after a period of regional chain acquisition, Federated is poised for a bright future.
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Foley Brothers, Houston, Texas was founded in 1900 and joined the Federated Department Stores organization in 1947. Absorbed the Dallas-based Sanger-Harris Co. chain in January 1987. It was acquired by May in the wake of Federated's 1988 acquisition by Campeau Corp. of Canada. In 1993 Foley's subsumed the May D&F chain based in Denver.
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The anchor situation continues to be interesting at Old Orchard with Federated Department Stores announcing yesterday that they are selling their Lord & Taylor division. Old Orchard has a Lord & Taylor location, though it is rather small. In fact, the small store (along with the former Saks Fifth Avenue space, now a Steve & Barry's University Sportswear) were outlined for demolition by Westfield when their Old Orchard expansion plans were made public last June.
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Wal-Mart's disappointment was a sharp contrast with results from discount rival Target Corp., which beat Wall Street forecasts, and Federated Department Stores Inc., which far exceeded expectations. Other retailers had mixed sales; J.C. Penney Co. and Costco Wholesale Corp. both fell short of Wall Street projections.
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PURCHASE, N.Y., June 22 /PRNewswire/ -- NRDC Equity Partners has entered into an agreement to acquire the 48-store Lord & Taylor retail chain from Federated Department Stores (NYSE: FD) for $1.2 billion in cash. The transaction is anticipated to close in the third quarter of 2006.
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