Federated announces A&S store conversions, expansion of Macy's and Stern's.CINCINNATI, OHIO--(BUSINESS WIRE)--January 17, 1995--Federated Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. announced today that it plans to change the nameplates on 17 A&S department stores in the New York/New Jersey area to either Macy's, Stern's or Bloomingdale's. Effective April 30, eight department stores and a Long Island furniture center will become Macy's, and five stores will take on the Stern's department store nameplate. In addition, the A&S store at Roosevelt Field in Garden City will be converted to a Bloomingdale's, which will open in the fall. The name changes will significantly expand the Macy's and Stern's nameplates. Beginning April 30, the Macy's East division of Federated Connected and treated as one. See federated database and federated directories. will operate 87 department stores -- 68 Macy's and 19 Jordan Marsh Jordan Marsh was the name of a Boston, Massachusetts-based department store. Founded in 1841 and eventually part of Allied Stores and then Federated Department Stores; in 1996, the last of the Jordan Marsh stores were renamed Macy's. -- compared to its current 78 stores in the northeast, and Stern's will grow from 22 stores to 27 stores in its NY/NJ NY/NJ New York/New Jersey markets. Jordan Marsh will continue to operate in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. under that nameplate and will not be affected by today's announcement. Federated said that while some of the store conversions involve only changes to store nameplates, other transactions are more complicated. The end result, however, will be passage of the A&S nameplate from the New York/New Jersey retail scene. Commenting on the change, Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. Questrom, Federated's chairman and chief executive officer, noted that while the decision to eliminate the A&S nameplate was "one of the most difficult decisions we have had to make, it is a decision that makes sound business sense since it will allow us to strengthen our market presence and maximize savings that can be passed on in the form of enhanced merchandise value to our customers at Macy's, as well as those at Stern's and Bloomingdale's. "In the long run, a store's name is not as important as the quality and traditions it represents," Questrom said. "The finest traditions of A&S are being preserved, and they will be carried on by Macy's, Stern's and Bloomingdale's. These are names that customers in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area and throughout the northeast already know and trust -- names that have been around for 150 years and that share common roots -- and that fact alone will make this transition a lot easier than otherwise." As part of the consolidation of A&S into Macy's East, which took place at the time of the Federated and Macy's merger in December, the following store conversions and name changes are scheduled: o A&S stores in Brooklyn, Huntington, Manhasset, Valley Stream and Yorktown, NY; Paramus and Short Hills, NJ; and Trumbull, CT, will be converted to Macy's, effective April 30. In addition, the Carle Place furniture center on Long Island will be converted from A&S to Macy's in the same timeframe. The Queens-Rego Park store configuration is still under study and an announcement will be made as soon as a resolution is determined. All current Macy's locations will continue in operation. o A&S stores in Manhattan (33rd Street), Lake Grove Lake Grove is the name of several towns in the United States:
o As previously announced, the A&S store in Woodbridge, NJ, is being sold to Sears, with the store slated to close February 19. In addition, the company also previously announced that Stern's is taking over the existing A&S store at Sunrise Mall Sunrise Mall may refer to:
o The A&S Roosevelt Field store will be converted to Bloomingdale's. The store will close as A&S on May 28, after a store closing clearance sale that begins April 2. The store will undergo an extensive remodel re·mod·el tr.v. re·mod·eled also re·mod·elled, re·mod·el·ing also re·mod·el·ling, re·mod·els also re·mod·els To make over in structure or style; reconstruct. and will reopen re·o·pen tr. & intr.v. re·o·pened, re·o·pen·ing, re·o·pens 1. To open or be opened again: Officials reopened the airport after the snow was cleared. Schools reopen in September. as Bloomingdale's on November 1. The new Roosevelt Field Bloomingdale's will replace the existing Bloomingdale's store in Garden City and will be the second largest Bloomingdale's outside of the New York flagship store. o The present Garden City Bloomingdale's store will close in early December, following an inventory clearance sale at that location. Federated said it intends to sell the lease on the existing Bloomingdale's Garden City store to Sears Roebuck & Co. for an undisclosed amount, and to turn the store over to Sears effective February 1, 1996. Stores that are undergoing straight conversions -- from A&S to Macy's or A&S to Stern's -- are expected to undergo the transition over-night or over a weekend, in most cases involving no disruptions to normal store hours. As part of the conversion, Macy's East plans to spend approximately $25 million in 1995 on store improvements and remodels in the converted A&S locations. Projects are scheduled to get underway within the next month in selected locations including improvements to store lighting, fixturing, visuals and interior painting; the addition of special designer and private label shops in some locations; and the upgrading of point-of-sale equipment in the stores. In addition, the exterior of the Fulton Street Fulton Street is a common name.. In New York City, the name is frequently associated with Robert Fulton, who invented a steam boat.
At Stern's, there are plans for more than $15 million in store conversion remodels, including improvements to store interiors, new fixturing and visuals. Stern's, as the anchor of Federated's moderate-priced department store business, is expected to continue developing a strong and expanded market presence in the New York/New Jersey area. Because A&S and Macy's operations are being merged into one central division operation, all active A&S credit card customers in good standing with A&S will receive Macy's credit cards beginning in April 1995. A&S customers who want Stern's credit cards can apply for these cards at any Stern's location at any time. Until April 30, A&S customers will continue to use A&S charge cards in A&S stores. In addition, A&S merchandise returns will be accepted at Macy's after the April 30th conversions, but not before that date. A&S gift certificates are redeemable Redeemable Eligible for redemption under the terms of an indenture. at A&S and Macy's immediately. It is not yet known how many store employees may be affected by the nameplate conversions. Some employees may continue working in the same locations after their stores are converted, while others may be offered positions at nearby stores in their present division. Those employees not retained or placed elsewhere in the company will be offered benefits packages that include severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when and outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. . The only exception is the A&S Roosevelt Field store where approximately 550 employees will be given the chance to apply for positions in the new Bloomingdale's when it reopens, as well as for other positions elsewhere in the company. Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $14 billion. Federated currently operates 346 department stores in 35 states under the names of Abraham & Straus, Bloomingdale's, The Bon Marche Marche, region, Italy Marche (mär`kā) or the Marches, region (1991 pop. 1,429,205), 3,742 sq mi (9,692 sq km), E central Italy, extending from the eastern slopes of the Apennines to the Adriatic Sea. , Bullock's, Burdines, Goldsmith's, Jordan Marsh, Lazarus, Macy's, Rich's and Stern's. The company also operates more than 100 specialty and clearance stores nationally. CONTACT: Media contacts: Federated Department Stores, Inc. NY Region - Christine Carter, 212/494-5437 Macy's East - Ronnie Taffet, 212/494-4414 Investor contact: Susan Robinson 513/579-7780 |
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