Federated and May in merger talks
US department store groups could create $30bn business
US retailers Federated Department Stores and May Department Stores are reported to be in merger talks.
The Wall Street Journal reports that Federated hopes to buy rival May in a deal which would create a business operating almost 1000 store with a combined turnover nudging $30bn.
Neither retailer has commented on the report, with talks said to be a a delicate stage.
Federated owns the Macy’s and Bloomingdales chains, and has been rebranding its regional department stores under the Macy’s fascia. It operates about 460 stores with 2003 sales of $15.26bn.
May operates chains including Lord & Taylor, David’s Bridal and Marshall Field’s, which it acquired from Target in a $3.2bn deal last year.
It has around 500 department stores, as well as of bridal and formal wear stores, with group sales of $13.34bn in 2003.
