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New Macy's Store

From: ASAP

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Federated Department Stores, Inc. (NYSE:FD), today announced it will open a new Macy's store at Fashion Square Mall in Scottsdale, AZ, in 2002.

The new Macy's store, to be developed in a currently vacant Sears department store space, will be a three-level, full-line department store, excluding furniture, of more than 250,000 square feet. Renovation of the space is scheduled to begin early 2002 with a store opening planned for next fall.

"Macy's is looking forward to serving customers in the Scottsdale area, by providing quality merchandise, personal service and an exciting shopping experience," said Jeremiah J. Sullivan, chairman and ceo, Macy's West. "We have been servicing the dynamic Scottsdale market from our stores in the Biltmore Fashion Park and Paradise Valley Mall, and now are excited to add Fashion Square Mall as a destination for Scottsdale's year-round residence and visitors."

Macy's West, headquartered in San Francisco, is a division of Federated. It operates 136 stores in Arizona, California, Hawaii, Minnesota, Nevada, New Mexico, Texas and Guam. Annual 2000 sales totaled $4.268 billion.

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 $18.4 billion. Federated currently operates more than 450 department stores in 34 states, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus and Rich's, as well as macys.com, bloomingdales.com and Bloomingdale's By Mail. Federated also operates the Fingerhut subsidiary.

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