In addition, Federated is converting 330 of the 487 units it will get from the merger into the Macy's chain. That move will bring the total number of US Macy's units to about 730. The units closing had about $2 billion in combine sales, say Federated executives.

Federated is closing stores in states from coast to coast, though mostly in California. Select stores in the regional May chains Famous-Barr, Filene's, Hecht's, Kaufmann's, L.S. Ayres, Strawbridge's and Robinsons-May will shut their doors. Among the notable malls that will lose an anchor are General Growth Properties' Glendale (CA) Galleria; the Mills Corp.'s Del Amo Fashion Center, Torrance, CA; and Simon Property Group's Galleria, in Houston.

Federated will convert stores in the regional chains that aren't closing into Macy's. Foley's, the Jones Store and Meier & Frank are May's other regional chains. Some stores are also being considered for transformation into Federated's other, more upscale, Bloomingdale's chain.