Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) announced that it is exploring the possible acquisition of the Marshall Field's department store group from Target Corporation. Target announced last month that it intended to review alternatives for the 62- store division, including a possible sale. No additional details concerning ongoing talks will be made available.
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 $15.4 billion. Federated operates more than 460 stores in 34 states, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Bon-Macy's, Burdines, Goldsmith's- Macy's, Lazarus-Macy's and Rich's-Macy's. The company also operates macys.com and Bloomingdale's By Mail.
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