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Federated buys two Gottschalks stores

From: ASAP


Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today announced an agreement for two new Bon Marche stores in Coeur d'Alene, ID and in Kennewick, WA. Both properties, currently operated by Gottschalks Inc., will undergo remodeling beginning in August and are scheduled to re- open as Bon Marche stores by late fall.

"We are very excited about opening these new stores," said Daniel Edelman, chairman of The Bon Marche. "Federated continues to invest in our developing Northwest market, which lets us continue to meet the growing needs of our customers."

The new Coeur d'Alene store in the Silver Lake Mall will occupy 44,000 square feet of retail space and will operate as a full-line store. The Bon Marche also will continue to operate its resort location on Sherman Avenue in downtown Coeur d'Alene.

The new Kennewick store in the Columbia Center Mall will occupy 40,000 square feet of retail space. It will serve as an expansion of the existing Columbia Center store, offering enlarged assortments of men's and children's merchandise. The current store location will offer women's apparel and home merchandise, as well as cosmetics, accessories, intimate apparel and shoes.

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 $15.6 billion. Federated currently operates more than 460 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 and Bloomingdale's By Mail.