(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
CINCINNATI-Federated Department Stores' $11-billion acquisition of St. Louis-based May Department Stores is now complete. The deal creates a department-store giant with 950 units in its portfolio.
Executives have added seven stores to a list of 68 previously announced units that the company is closing next year as a result of duplication from the merger. Those stores are four Macy's in California, two Lord & Taylors in New York and one Filene's in Massachusetts.
One of the Macy's, in Forest City Enterprises' Simi Valley (CA) Town Center, is scheduled to open in October as part of that new development. Additionally, Federated will either divest its Macy's or Filene's store in Downtown Boston, but officials have not yet determined which they will shut.
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