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Still No Word on May

CINCINNATI-Federated is willing to discuss its tepid Q4 numbers, but not any possible acquisitions.

By Dees Stribling | Updated on February 22, 2005

CINCINNATI-Amid a backdrop of widely reported stories that Federated Department Stores Inc. and the May Department Stores Co. were close to striking a merger deal, Federated reported lackluster comps in its fourth fiscal quarter (ended Jan. 29). Comparable store sales in the quarter eked upward 0.8% compared with the same period in 2003, though as a whole, the department store giant did better in 2004: comps were up 2.6% over the year before.

For the fourth quarter of 2004, Federated’s sales totaled about $5.07 billion, up 0.4% from total sales of $5.05 billion in the final 13 weeks of 2003. The chain’s 2004 sales totaled $15.63 billion, up 2.4% from total sales of $15.264 billion in 2003.

Besides its reported talks with May—which now owns the Marshall Field brand, among others—Federated is also in the middle of a major rebranding effort. As of March 6, many of the various stores currently under its banner, which now operate under the hyphenated names of Bon-Macy’s, Burdines-Macy’s, Goldsmith’s-Macy’s, Lazarus-Macy’s and Rich’s-Macy’s, each denoting its corporate history, will lose their predecessor names to all become Macy’s.

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