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Federated Points to Six More Closings

BY CSA STAFF

Cincinnati, Federated Department Stores has more store closings planned than it announced originally. The chain identified an additional six duplicate stores in Arizona, California, Indiana, Kentucky and New Hampshire it intends to divest beginning in 2006. The closings are a direct result of the merger with The May Department Stores Co. Federated previously announced 76 locations it plans to divest beginning in 2006 because duplicative Macy’s and May Company stores operate in the same mall or shopping center. Also, as previously announced, four May Company locations will be closed for renovation in 2006 and later re-opened as Bloomingdale’s. All told, the divestiture list brings the total to 82, with total 2004 sales of $2.2 billion. The six added to the list today are:

  • Macy’s in Wesleyan Park Plaza in Owensboro, Ky. (55,000 sq. ft.; 55 employees, opened in 1987);
  • Macy’s in Rockingham Park Mall in Salem, N.H. (159,000 sq. ft., 134 employees, opened in 1994);
  • Macy’s in Tucson Mall in Tucson, AZ (138,000 sq. ft.; 186 employees, opened in 1982);
  • Macy’s apparel store in The Oaks in Thousand Oaks, Calif. (149,000 sq. ft.; 57 employees; opened in 1983);
  • Marshall Field’s in University Park Mall in Mishawaka, Ind. (123,000 sq. ft.; 144 employees, opened in 1980);
  • Robinsons-May south store in North County Fair in Escondido, Calif. (116,000 sq. ft.; 80 employees; opened in 1986).
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    Report: Kroger Bids for Albertson’s

    BY CSA STAFF

    New York City, Kroger appears to be in the running for Boise, Idaho-based Albertson’s. According to Reuters, not only has Albertson’s received a preliminary takeover bid from its Cincinnati-based rival Kroger Co., Albertson’s also has generated interest from pharmacy drugstore chains Walgreen Co., Rite-Aid and CVS.

    Investment firms Kohlberg Kravis Roberts, Thomas H. Lee Partners and Yucaipa Companies are also in the bidding mix, according to reports. Albertson’s market value is estimated at about $10 billion, plus some $6.5 billion in debt.

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    Report: Kroger Bids for Albertson’s

    BY CSA STAFF

    New York City, Kroger appears to be in the running for Boise, Idaho-based Albertson’s. According to Reuters, not only has Albertson’s received a preliminary takeover bid from its Cincinnati-based rival Kroger Co., Albertson’s also has generated interest from pharmacy drugstore chains Walgreen Co., Rite-Aid and CVS.

    Investment firms Kohlberg Kravis Roberts, Thomas H. Lee Partners and Yucaipa Companies are also in the bidding mix, according to reports. Albertson’s market value is estimated at about $10 billion, plus some $6.5 billion in debt.

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