Unknowns still left in federated merger.Will another fashionable pump be dropping on the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. retail scene in the wake of Federated Connected and treated as one. See federated database and federated directories. Department Stores' announcement last week that it will close 68 stores as a result of the pending merger with 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. Co.? Along with the announcement, which includes three Robinsons-May stores in the Valley, Federated noted that it would "continue to study the May Co. store portfolio in light of the merger," when it announced last week that it plans to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. the stores. With the merger still awaiting regulatory approval, officials said they could not yet fully assess the situation. "We don't have full information on a lot of subjects," said Jim Sluzewski, a spokesperson for Cincinnati-based Federated. "So we've made decisions that we think we can make based on information we have, and there are still a handful of circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or where there are some stores or businesses we don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. enough about to make informed decisions." One of those areas is the Robinsons-May corporate headquarters offices in North Hollywood, and officials said no decision would be made on that operation until after the merger is completed sometime in the fiscal third quarter. The Robinsons-May headquarters provides buying and administrative services to the division's western region, which includes Robinsons-May and Meier & Frank stores in Nevada, Arizona, Utah, Oregon and Washington as well as California. Officials at the regional headquarters office did not respond to a request for an interview, but an estimated 1,700 workers are believed employed at the location, including retail store personnel. The announced store divestitures will leave just 40 of the existing 56 Robinsons and Meier & Frank units within the western division territory, all converted to the Macy's name. Federated already operates five divisional headquarters offices for its Macy's division, including one in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . |
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