Federated targets Marshall Fields
Department store group in acquisition talks
Federated Department Stores has confirmed that it is in talks to buy the Marshall Field’s department store chain from US discount retailer Target.
Federated, which operates 460 stores in the US including the Macy’s and Bloomingdale’s chains, said it is ‘exploring the possible acquisition’ of the 62-store Marshall Field’s business, but did not give details of the ongoing talks.
Target announced last month that it would consider a sale of Marshall Field’s, as well as its 266-outlet mid-priced department store chain Mervyn’s, as part of a strategic drive focus on its discount store chain, which competes with Wal-Mart.
[img r]macys2.jpg[/img]Marshall Field’s, with a strong branded fashion offer, would be a good strategic fit with Federated’s own upmarket, fashion-led businesses.
Federated has been rebranding its regional chains over the past year to identify them more closely with the Macy’s operation. Its businesses include Bon-Macy’s, Burdines, Goldsmith’s-Macy’s, Lazarus-Macy’s and Rich’s-Macy’s. 266 stores.
