About 330 stores currently owned by May Department Stores will be rebranded to become Macy’s next year as Federated Department Stores aquires them.
May’s stores will continue to operate under their current brands at least through this year’s holiday shopping season. Divestiture of duplicate May Company and Macy’s locations will begin in 2006 and will be offered for sale.
“With these additions, Macy’s will operate about 730 stores, representing virtually every major U.S. market,” he added. “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.
Marshall Field’s may or may not become Macy’s, but it has already been decided that the Lord & Taylor name will remain unchanged. Federated announced that the following stores will be changed to Macy’s:
“It is important for associates of both companies to understand that we will be as sensitive and caring as possible throughout this process. We will honor the pledge made previously to May Company associates that there will be no workforce reductions or job eliminations as a result of the merger prior to March 1, 2006,” said Lundgren.
The merger of Federated and May has already been approved by shareholders. The deal is expected to reach completion sometime in the third quarter.
Chris is a staff writer for Murdok. Visit Murdok for the latest ebusiness news.
