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![]() Macy's, Inc. headquarters, located on Macy's Herald Square (2018) | |
Formerly | Federated Department Stores, Inc. (1929–2007) |
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Company type | Public |
Industry | Retail |
Founded | 1929Columbus, Ohio, U.S. | in
Headquarters | , U.S. |
Number of locations | 722 (2022) |
Area served |
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Key people | Tony Spring (chairman and CEO) |
Products |
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Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | ~130,000 (2019) |
Parent | Campeau Corporation (1988–1992) |
Subsidiaries | |
Website | macysinc |
Footnotes /references [1] [2] |
Macy's, Inc. (previously Federated Department Stores, Inc.) is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over the department store chain Macy's. Despite a long history of preserving regional nameplates, with the acquisition of The May Department Stores Company in 2005, they were retired and replaced by the Macy's and Bloomingdale's brands nationwide by 2006. Ultimately, Federated itself was renamed Macy's, Inc. in 2007.
Macy's, Inc. owns the department store chains Bloomingdale's and Macy's, and beauty store chain Bluemercury, all of which operate flagship stores in Manhattan. As of October 2022 [update] , it operates 722 locations in the United States, Guam, and Puerto Rico. The company was the world's largest fashion goods retailer and the 36th largest retailer overall in 2010. [3] Macy's, Inc. has been headquartered within Macy's Herald Square in New York City since 2020, and was previously headquartered in Cincinnati, Ohio from 1945 until 2020.
Federated Department Stores traces its corporate lineage to F&R Lazarus & Company, founded in Columbus, Ohio, in 1851. In the summer of 1929, months before the Wall Street Crash of 1929, Fred Lazarus Jr. met with Walter N. Rothschild from Abraham & Straus of Brooklyn and Edward Filene from Filene's of Boston on Rothschild's yacht in Long Island Sound. The three businessmen agreed to merge their stores and form Federated Department Stores, as a department store holding company for F&R Lazarus & Company (including its Cincinnati division, then known as Shillito's), Abraham & Straus, and William Filene's Sons of Boston. In 1930, Bloomingdale Brothers of New York joined. [4]
In the mid-1930s, a modern merchandising standard was set when Fred Lazarus Jr. arranged garments in groups of a single size with a range of style, color and price, basing the technique upon observations made in Paris. As well, Lazarus convinced President Franklin D. Roosevelt that it would help American economy to change the Thanksgiving holiday from the last Thursday of November to the fourth Thursday, thus extending the Christmas shopping season. An act of Congress perpetuated the arrangement in 1941. Black Friday became a nationwide sensation and the most profitable day for Federated. (Robert Lazarus Jr. worked at Federated until he died in 2013, the last remaining family member with an official role at the company. [5] )
In 1945, Federated moved its corporate offices to Cincinnati. [6] The latter half of the 20th century saw the company expand nationwide, adding Rike Kumler of Dayton, Ohio (merged into Shillito's in the 1980s to become Shillito-Rike's); Burdines of Miami, Florida; Rich's of Atlanta, Georgia; Foley's of Houston, Texas; Sanger Brothers and A. Harris, both of Dallas, Texas (which were merged to form Sanger-Harris); Boston Store of Milwaukee, Wisconsin; MainStreet of Chicago, Illinois; Bullock's, of Los Angeles; I. Magnin, of San Francisco, California; Gold Circle; and Richway Discount Department Stores of Worthington, Ohio. Federated entered the supermarket industry in 1968 when it acquired the Ralphs chain based in Southern California. [7] In 1982, Federated acquired the Twin Fair, Inc. discount store chain based in Buffalo, New York, and merged it with Gold Circle. [8] In 1983, Federated sold four shopping center properties to JMB Realty. [9]
Canadian real estate developer Robert Campeau – who had taken over and dismembered Allied Stores in 1986 – attempted to take over Federated starting in early 1988 which Federated fought off in a high-profile battle, with Macy's (at that time not part of Federated, but a rival), also submitting competitive bids of over $6 billion. [10] Nonetheless, in April 1988, Federated gave in and agreed to a $6.6 billion takeover by Campeau. It was the largest merger in corporate history, barring the oil sector. Macy's paid Campeau $1.1 billion to acquire the 20-store Bullock's/Bullocks Wilshire and the 25-store specialty apparel chain I. Magnin. [11] Two years later, Federated filed for bankruptcy after Campeau failed to refinance the debt of Federated and Allied Stores Corp. [12] In 1992, Campeau was ousted and Federated emerged from bankruptcy as a new public company, Federated Stores, Inc., dropping the word "Department" from the previous company. [13] As part of the reorganization, Federated sold the Ralphs chain to a group of owners led by Edward J. DeBartolo Corporation. [14]
Also in 1992, Macy's declared bankruptcy; Federated acquired it two years later, in 1994. The name of the once-main-rival of Federated, Macy's, would soon become the consumer-facing identity of most of Federated's stores.
In 1995 Federated bought Broadway Stores, Inc. and its California-based Emporium-Capwell, Weinstock's and The Broadway chains. [15] Macy's changed the nameplate of these three chains and Bullock's to Macy's, or in some cases, turned locations into Bloomingdales. In 2003, Federated changed the nameplates of almost all their remaining non-Macy's stores – the lone exception was Bloomingdales – to include the Macy's name, a rebranding internally dubbed Project Hyphen. For example, Seattle-based The Bon Marché became Bon-Macy's; Goldsmith's in Tennessee became Goldsmith's-Macy's; Lazarus, Burdines, and Rich's also added "-Macy's" to their name. A year later, the hyphenated names were changed to simply Macy's, a rebranding process referred internally to as Project Star.
The department store chain Stern's, a division of Federated, ceased operations in 2001 and most of its stores became Macy's stores.
Federated began selling goods online in 1998, rather later than most contemporary large retailers; Federated ran a private bank, FDS Bank, which issued and maintained the majority of its own consumer credit card portfolio, [16] was one of the last credit card banks to begin to allow its cardholders to access account information online (around 2004).
In 1998, Federated settled an SEC investigation for $14.46 million (equivalent to $27 million in 2024) due to unethical debt-collection practices. Federated routinely forced credit card holders/debtors to sign an agreement that legally bound them to repay their outstanding balances instead of having the unsecured debt discharge via the filing of bankruptcy. Federated failed to file reaffirmation agreements with bankruptcy courts. As a result, the changes in the agreements were not legally binding. [17] [18] [19] [20]
In 2001 Federated acquired Liberty House of Hawaii as it emerged from Chapter 11 bankruptcy. It was managed as part of Macy's West and all the store names were changed to Macy's. [21] [ circular reference ]
In 2005, Federated agreed to sell its credit card business to Citigroup. [22]
This section needs additional citations for verification .(October 2023) |
On February 28, 2005, Federated Department Stores announced that it would acquire May Department Stores company for $11 billion (equivalent to $17.2 billion in 2024) in cash and stock. Also part of the buyout was the bridal and formal unit of May, consisting of David's Bridal and After Hours Formalwear. Federated would also assume $6 billion (equivalent to $9.36 billion in 2024) of May's debt, bringing total consideration to $17 billion (equivalent to $26.5 billion in 2024). The deal would create the nation's largest department store chain with over 1,000 stores and $30 billion (equivalent to $46.8 billion in 2024) in annual sales. To help finance the deal, Federated agreed to sell its combined proprietary credit card business (but still administered by FACS Group, a subsidiary of Federated) to Citigroup. The merger was completed on August 30, 2005, after an assurance agreement was reached with the Attorneys General of New York, California, Massachusetts, Maryland, and Pennsylvania.
As a result of the merger, Federated also in the process reacquired two of their former department store chains Foley's & Filene's (Which Federated originally sold to May Company), putting them back under the Federated Department Stores corporate umbrella for the first time since 1988.
Federated announced plans to sell 80 store locations in 2006, having pledged in its settlement to sell most of them as viable businesses, with preference being given to a group of thirteen competitors. This number could fluctuate pursuant to Federated's negotiations with various mall landlords and its final decision regarding using former Macy locations for its luxury Bloomingdale's operation.
On January 12, 2006, Federated announced its plans to divest May Company's Lord & Taylor division (48 stores in 12 states) by the end of 2006 after utilizing prime and conflicting real estate by closing and converting several locations. On June 22, 2006, Macy's announced that NRDC Equity Partners, LLC would purchase Lord & Taylor for US$1.2 billion (equivalent to $1.81 billion in 2024), and completed the sale in October 2006.
On September 9, 2006, the former May Company store names Famous-Barr, Filene's, Foley's, Hecht's, The Jones Store, Kaufmann's, L. S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, and Strawbridge's disappeared as Federated switched most of them to the Macy's masthead and a few to the Bloomingdale's name. One of the consequences of this rebranding is that several malls have two Macy's stores. In downtown Boston, Federated liquidated an acquired Filene's because it already had a Macy's (formerly a Jordan Marsh) across the street. The two stores have a combined floorspace of more than 1,400,000 square feet (130,000 m2), more than two-thirds the size of Macy's New York City flagship store.
On November 17, 2006, the bridal and formal unit was sold. David's Bridal and Priscilla of Boston were sold to Leonard Green & Partners. After Hours Formalwear was sold to Men's Wearhouse. [23]
This section needs additional citations for verification .(October 2023) |
On February 27, 2007, Federated announced that its board of directors would ask shareholders to change the company's name to Macy's Group, Inc. By March 28, the company revised its plans for the new name, opting to eventually become Macy's, Inc. Federated shareholders approved the revised proposal during the company's annual meeting on May 18, 2007. [24]
The name took effect on June 1, 2007. The reasoning for the proposed name change—according to Terry Lundgren, Federated's chairman, president, and chief executive officer—hinges on the large-scale conversions throughout the company toward the Macy's nameplate. "Today, we are a brand-driven company focused on Macy's and Bloomingdale's, not a federation of department stores," Lundgren said in the company's press release heralding the proposed name. [25] Upon the change to Macy's Inc., Federated's stock ticker symbol on the New York Stock Exchange changed from "FD" to "M", making the new Macy's Inc. one of a handful of single-letter ticker symbol companies. [26]
In April 2008, Moody's Investors Service said that it might downgrade Macy's Inc. bonds to just above junk status. [27] That same month, Fitch Ratings downgraded their bond credit rating to BBB− from BBB, noting a deterioration in the company's operating and credit metrics.
The domain macysinc.com attracted at least 3 million visitors annually by 2008, according to a Compete.com survey. [28]
On Wednesday, February 6, 2008, Terry Lundgren announced the localization strategy and the company's plan to shed 2,550 jobs. This new localization strategy is known as "My Macy's."
Employees of the Macy's North headquarters office in Minneapolis, the Macy's Northwest headquarters office in Seattle, and the Macy's Midwest headquarters office in St. Louis were given pink slips, as Macy's pared its seven regional centers to four. About 40 new jobs were to be created in May as part of the restructuring. By 2009, the company expected to save $100 million (equivalent to $142 million in 2024) a year from the cuts.
On February 2, 2009, Macy's announced the elimination of 7,000 jobs, or 4% of its workforce, and slashed its dividend as it looked to lower expenses as part of a major restructuring. Cincinnati-based Macy's Inc. stated that the workforce reduction included positions in offices, stores, and other locations, and the cuts include some unfilled jobs. "Reducing our workforce is an unfortunate outcome of the current economic environment, and I am frustrated that so many of our people will be unable to move forward with us as we proceed into a very exciting future for Macy's and Bloomingdale's" said Terry J. Lundgren, chairman, president and chief executive officer.
Macy's also got rid of its division structure and integrated its functions into one organization. Macy's central buying, merchandise planning, stores senior management and marketing functions merged to its New York City corporate office (formerly Macy's East). Corporate-related business functions, such as finance and human resources, will be primarily in Cincinnati. To buy with local consumers in mind, Macy's developed a concept called "My Macy's", in which the buyers and planners all look at what the local consumer base is looking for in their local Macy's store. This will help bring a better sense of branding, sizing, and marketing to each Macy's store nationwide.
Macy's Inc. decided to close the Bloomingdale's at the Mall of America in Minnesota. Since 1994, Bloomingdale's had been one of the 4 anchor stores of the mall, and will be replaced with a $30 million renovation with four new foreign clothing stores.
On October 14, 2013, Macy's Inc. announced the decision to open most of their stores for the first time on Thanksgiving Day 2013, breaking a long-standing tradition of 155 years, and joined the ranks of retailers who created Gray Thursday the year before. Its doors opened at 8 p.m. (local time) on the holiday evening, and remained open for 24 hours straight until the close of business on Friday, which is usually about 10 p.m. [29]
As of February 2014 [update] , Macy's Inc. is valued at US$28 billion. [30]
In September 2015, Macy's announced it would close 40 stores, 5% of its total stores in early 2016. It also announced plans to open 6 additional Macy's Backstage locations. From 2010 to 2015, Macy's had closed 52 stores and opened 12. [31]
In February 2020, Macy's announced that their headquarters in downtown Cincinnati will be closing in the near future with all corporate operations relocating to New York City. This news came after a gradual pulling out of the Cincinnati area with a couple of area store closures and the retirement of a top executive.
In November 2021, Macy's announced the launch of its digital marketplace, which set to debut in the second half of 2022. Macy's will partner with AlixPartners and Mirakl. [32]
In November 2023, it was reported that Arkhouse Management and Brigade Capital Management have offered to buy Macy's Inc. for $5.8 billion. [33] Macy's rejected the offer in January 2024 citing the unsolicited offer to be undervalued. [34] The investor group increased their offer to $6.6 billion two months later. [35]
In February 2024, Macy's announced it would close 150 stores by 2026. [36]
Name | Year founded | Year acquired | Notes |
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Bloomie’s | 2021 | — | Small-format Bloomingdale’s |
Bloomingdale's | 1860 | 1930 | |
Bloomingdale’s The Outlet Store | 2010 | — | |
Bluemercury | 1999 | 2015 | |
Macy's | 1858 | 1994 | |
Macy's Backstage | 2015 | — | |
Market by Macy's | 2020 | — | Small-format Macy’s |
Name | Year founded | Year acquired | Year defunct | Notes |
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A. Harris and Company | 1889 | 1961 | 1961 | Merged with Sanger Brothers to form Sanger-Harris |
Abraham & Straus | 1865 | 1929 | 1995 | Replaced by Macy's |
After Hours | 1946 | 2005 | 2008 | Sold to Men's Wearhouse in 2006 |
Bamberger's | 1893 | 1986 | 1986 | |
The Bon Marché | 1890 | 1992 | 2005 | Co-branded Bon-Macy's from 2003–2005; converted to Bloomingdale's and Macy's |
Boston Store | 1897 | 1948 | 1985 | Sold to Maus Frères |
The Broadway | 1896 | 1995 | 1996 | |
Bullock's | 1907 | 1995 | 1996 | Previously owned by Federated from 1948–1985; converted to Macy's |
Burdines | 1896 | 1956 | 2005 | Co-branded Burdines-Macy's from 2003–2005; converted to Macy's |
David's Bridal | 1950 | 2005 | — | Sold to Leonard Green & Partners in 2006 |
Davison's | 1860 | 1925 | 1986 | |
The Emporium | 1896 | 1995 | 1996 | Converted to Macy's |
Famous-Barr | 1911 | 2005 | 2006 | Converted to Macy's |
Filene's | 1881 | 2005 | 2006 | Previously owned by Federated from 1929–1988; converted to Macy's |
Filene’s Basement | 1908 | 1929 | 2011 | Spun off after Federated acquisition by Campeau Corporation in 1988 |
Foley's | 1900 | 2005 | 2006 | Previously owned by Federated from 1947–1988; converted to Macy's |
Gold Circle | 1967 | 1967 | 1988 | |
Gold Triangle | 1970 | 1970 | 1981 | Converted into Richway |
Goldsmith's | 1870 | 1959 | 2005 | Co-branded Goldsmith's-Macy's from 2003–2005; converted to Macy's |
Hecht's | 1857 | 2005 | 2006 | Converted to Bloomingdale's and Macy's |
I. Magnin | 1876 | 1994 | 1994 | Previously owned by Federated from 1964–1987; converted to Macy's |
John Taylor Dry Goods Co. | 1949 | |||
The Jones Store | 1887 | 2005 | 2006 | Converted to Macy's |
Jordan Marsh | 1841 | 1988 | 1996 | Converted to Macy's |
Kaufmann's | 1871 | 2005 | 2006 | Converted to Macy's |
L. S. Ayres | 1872 | 2005 | 2006 | Converted to Macy's |
Lasalle & Koch | 1865 | 1981 | 1981 | |
Lazarus | 1851 | 1929 | 2005 | Co-branded Lazarus-Macy's from 2003–2005; converted to Macy's |
Liberty House | 1849 | 2001 | 2001 | Converted to Macy's |
Lord & Taylor | 1826 | 2005 | 2021 | Sold to NRDC Equity Partners |
Maas Brothers | 1886 | 1988 | 1991 | Converted to Burdines |
MainStreet | 1983 | 1983 | 1988 | Sold and converted to Kohl's |
Marshall Field's | 1852 | 2005 | 2006 | Converted to Bloomingdale's and Macy's |
Meier & Frank | 1857 | 2005 | 2006 | Converted to Macy's |
O'Connor, Moffat & Co. | 1947 | |||
Ralphs | 1873 | 1968 | — | Sold to DeBartolo Corporation in 1992 |
Rich's | 1867 | 1976 | 2005 | Co-branded Rich's-Macy's from 2003–2005; converted to Bloomingdale's and Macy's |
Richway | 1968 | 1976 | 1988 | Converted to Gold Circle |
Rike's | 1853 | 1959 | 1982 | Merged with Shillito's to form Shillito-Rike's |
Robinsons-May | 1993 | 2005 | 2006 | Converted to Bloomingdale's and Macy's |
Sanger Brothers | 1868 | 1951 | 1961 | Merged with A. Harris and Company to form Sanger-Harris |
Sanger-Harris | 1961 | 1961 | 1987 | Converted to Foley's |
Shillito's | 1830 | 1929 | 1982 | Merged with Rike's to form Shillito-Rike's |
Shillito-Rike's | 1982 | 1982 | 1986 | Converted to Lazarus |
Stern's | 1867 | 1988 | 2001 | Converted to Bloomingdale's and Macy's |
Strawbridge's | 1868 | 2005 | 2006 | Converted to Macy's |
Weinstock's | 1924 | 1995 | 1995 |
The conversion of Marshall Field's in Chicago was particularly criticized, with many customers boycotting its historic State Street flagship store. The Chicago Tribune continues to report on the poor reception of Macy's in Chicago. Pittsburgh customers also strongly resisted the name change from Kaufmann's, in part because of the Kaufmann family role in Pittsburgh history, as well as the central store's Christmas windows and holiday parade.
The May Department Stores Company was an American department store holding company, formerly headquartered in downtown St. Louis, Missouri. It was founded in Leadville, Colorado, by David May in 1877, moving to St. Louis in 1905. After many changes in the retail industry, the company merged with Federated Department Stores in 2005.
Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007. It is the largest department store company by retail sales in the United States as of 2015.
Bloomingdale's Inc. is an American luxury department store chain founded in 1861 by Joseph Bloomingdale and Lyman Bloomingdale. It was acquired by Federated Department Stores in 1930, which acquired the Macy’s department store chain in 1994, when they became sister brands. Ultimately, Federated itself was renamed Macy’s, Inc. in 2007.
Robert Joseph Antoine Campeau was a Canadian financier and real estate developer. Starting from a single house constructed in 1940 in the Alta Vista neighbourhood of Ottawa, Ontario, Campeau built a large land development corporation around the development of the suburb of Kanata. Expansion in the U.S. led Campeau to diversify into the ownership of retail department stores to anchor commercial development projects. The Campeau Corporation used leveraged buyouts to buy the department stores and went bankrupt when it could not maintain the debt payments, in the largest retailing bankruptcy at the time in U.S. history.
Jordan Marsh was an American department store chain that was headquartered in Boston, Massachusetts, and operated throughout New England. It was founded by Eben Dyer Jordan and Benjamin L. Marsh in 1841. The ownership of Jordan Marsh was transferred between several holding companies during its operation, including Hahn Department Stores in 1928, Allied Stores in 1935, and Federated Department Stores in 1988. The brand was retired and most stores were converted into the New York City-based Macy's in 1996.
Foley's was a regional chain of department stores owned by Federated Department Stores, later owned by May Department Stores (1988–2005) and headquartered in Downtown Houston, Texas. On August 30, 2005, the division was dissolved and operation of the stores was assumed by Federated's Macy's West and Macy's South divisions. Foley's operated stores in Arizona, New Mexico, Colorado, Oklahoma, Texas and Louisiana. On September 9, 2006 Foley's and all the regional May Co. stores names were phased out and rebranded as Macy's.
Filene's was an American department store chain; it was founded by William Filene in 1881. The success of the original full-line store in Boston, Massachusetts, was supplemented by the foundation of its off-price sister store Filene's Basement in 1908. Filene's, in partnership with Abraham & Straus, Lazarus, and Shillito's, was an original member of the holding company Federated Department Stores upon its establishment in 1929.
Fred R. Lazarus Jr. was an American founder of Federated Department Stores, which became Macy's, Inc.
David's Bridal is a clothier in the United States that specializes in wedding dresses, bridesmaid dresses, prom and homecoming dresses, quinceañera dresses, flower girl dresses, other formal wear, and alterations. It is the largest American bridal-store chain and sells 25-30% of all wedding dresses purchased in the United States.
F&R Lazarus & Company was a regional department store with its retail chain operating primarily in the U.S. Midwest, and based in Columbus, Ohio. For over 150 years, Lazarus was influential in the American retail industry, particularly during the early 20th century as a founding partner in Federated Department Stores, and continued until the nameplate was retired on March 6, 2005, in favor of Macy's.
Abraham & Straus, commonly shortened to A&S, was a major New York City department store, based in Brooklyn. Founded in 1865, it became part of Federated Department Stores in 1929. Shortly after Federated's 1994 acquisition of R.H. Macy & Company, it eliminated the A&S brand. Most A&S stores took the Macy's name, although a few became part of Stern's, another Federated division, but one that offered lower-end goods than Macy's or A&S did.
Associated Dry Goods Corporation (ADG) was a chain of department stores that merged with May Department Stores in 1986. It was founded in 1916 as an association of independent stores called American Dry Goods, based in New York City.
Allied Stores was a department store chain in the United States. It was founded in the 1930s as part of a general consolidation in the retail sector by B. E. Puckett. See also Associated Dry Goods. It was the successor to Hahn's Department Stores, a holding company founded in 1928. In 1935 Hahn's was reorganized into Allied Stores.
The Rike-Kumler Company was an American department store in Dayton, Ohio. In 1959, Rike's became part of the Federated Department Stores conglomerate. In 1982, Federated merged Rike's with its Cincinnati unit, Shillito's, in order to form Shillito–Rike's. In 1986, Federated merged Shillito–Rike's into the Columbus-based Lazarus chain, which, in 2005 was consolidated with most other Federated chains under the Macy's brand.
Filene's Basement, also called The Basement, was a Massachusetts-based chain of department stores which was owned by Retail Ventures, Inc. until April 2009 when it was sold to Syms.
Tri-County Mall, originally Tri-County Center, was a shopping mall located on State Route 747 just south of Interstate 275 in the city of Springdale, Ohio, a suburb of Cincinnati, Ohio, United States. Originally known as Tri-County Shopping Center, it opened in 1960 and has been expanded several times in its history. The original shopping center was an open-air property featuring H. & S. Pogue Company (Pogue's) and John Shillito Company (Shillito's) as the anchor stores. An enclosed wing anchored by Sears was added in 1969, followed by the enclosure of the rest of the mall. Shillito's was later known as Shillito-Rike's, Lazarus, Lazarus-Macy's, and then just Macy's; Pogue's was consolidated with L. S. Ayres and then converted to JCPenney. A mall expansion begun in 1990 and finished in 1992 added a second level of stores and McAlpin's as a fourth anchor store. The mall underwent a slow decline in the 21st century, owing mainly to the center's age and increased competition, and lost all of its anchors. Both JCPenney and Dillard's relocated to newer shopping centers in the 2010s, while Sears closed in 2018 and Macy's closed in 2021. The mall itself closed on May 15, 2022. It is owned by MarketSpace Capital and Park Harbor Capital.
The H. & S. Pogue Company was a Cincinnati, Ohio based department store chain founded by two brothers, Henry and Samuel Pogue. They came from County Cavan, Northern Ireland, to Cincinnati and worked in their uncle's dry goods store. They later were able to buy him out and H. & S. Pogue Dry Goods Company was established in 1863 at 111 West Fifth Street. Brothers Thomas, Joseph, and William Pogue would eventually join the enterprise.
Finlay Enterprises Inc. was a holding company based in New York that conducted business through its wholly owned subsidiary "Finlay Fine Jewelry". It was founded in 1887. Finlay Enterprises Inc. filed for Chapter 11 bankruptcy in August, 2009.
Maurice "Mogie" Lazarus was an American retailing executive who served as president of Filene's and founded Harvard Pilgrim Health Care.
Anderson Towne Center is a shopping mall in Cincinnati, Ohio, United States. Built in 1969 as Beechmont Mall, it originally included John Shillito Company (Shillito's) and Mabley & Carew as its major anchor stores, with Gold Circle joining in 1980. Each anchor store changed names twice during the original mall's history: Shillito's became Rike Kumler Co. (Rike's) and then Lazarus, Mabley & Carew became Elder-Beerman and then Parisian, while Gold Circle became Hills and then Kmart. Between 2002 and 2003, the center was demolished except for the Lazarus and Kmart buildings, and renamed to Anderson Towne Center. Following the conversion of Lazarus to Macy's at that point and the closure of Kmart in 2013, the center's present anchor stores are Macy's, Kroger, Sky Zone, and Crunch Fitness.
In January, days before the filing, Campeau Corp.'s board, by then strongly influenced by the Reichmanns, stripped Bob Campeau of authority over retailing and put the operation on its own. Then the board put Federated, Allied, and 65 subsidiaries into Chapter 11. As boss of what is now called Federated Stores Inc., the directors installed G. William Miller