Federated to Proceed with After Hours Formalwear Sale.CINCINNATI -- Federated Connected and treated as one. See federated database and federated directories. Department Stores, Inc. (NYSE NYSE See: New York Stock Exchange :FD)(NYSE Arca:FD) today announced that the Federal Trade Commission has terminated its review of the proposed sale of Federated's 507-store After Hours Formalwear After Hours Formalwear is a clothier business that specializes in the renting and selling of formal wear for men, especially tuxedos and business suits. It is specifically popular for weddings and school dances like prom, homecoming, and winter formal. business to Houston-based Men's Wearhouse. The transaction is proceeding, and the company expects it will be completed on or before April 9, 2007. The After Hours sale will complete the divestiture of Federated's Bridal Group division, which was acquired in 2005 as part of The May Department Stores The May Department Stores Company was a department store chain founded in 1877 by David May in Leadville, Colorado. Its headquarters moved to St. Louis, Missouri in 1905, and the company went public in 1911. Company. Federated, with corporate offices in Cincinnati and 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 , is one of the nation's premier retailers, with fiscal 2006 sales of $27 billion. Federated operates more than 850 department stores in 45 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com, bloomingdales.com and Bloomingdale's By Mail. All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based upon the current beliefs and expectations of Federated's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission. (NOTE: Additional information on Federated, including past news releases, is available at www.fds.com/pressroom) |
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