Federated Department Stores, Inc. (NYSE:FD)and the Federated Department Stores Foundation announced today an initial companywide response to the tragedy that took place earlier this week in New York City and our nation's capital.
The Federated Department Stores Foundation has authorized a $100,000 donation to the American Red Cross to assist in ongoing relief efforts. In addition, the company said that between now and the end of the year, its Foundation will match dollar-for-dollar all employee contributions to the American Red Cross, up to a total of $150,000.
In addition, Federated's award-winning employee volunteer program -- Partners in Time -- will be offering red-white-and-blue lapel ribbons along with small American flags to employees in Federated's Cincinnati corporate headquarters in conjunction with tomorrow's "Flags Across America" show of national solidarity. Minimum contributions of $1 per item will be collected, with proceeds going to American Red Cross relief efforts. Other Partners in Time programs in stores and divisions across the company are planning to engage in similar efforts.
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 catalog and e-commerce subsidiary.
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