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May Stores purchase planned.
The Washington Times Knight Ridder/Tribune Business News
Mar. 1--Federated Department Stores Inc., which owns Macy's and Bloomingdale's, announced yesterday it would buy May Department Stores, owner of the Hecht Co., for about $11 billion, positioning itself to be a powerful national retailer.
The purchase would mean most of May's regional chains, including 148-year-old homegrown Hecht's, Lord & Taylor and Strawbridge's, likely will be converted to the Macy's name.
The name change would bring the end of another Washington retailer, going the way of the defunct Woodward & Lothrop, Garfinckel's and Hechinger's.
"Today, we have taken the first step toward combining two of the best department store companies in America, creating a new retail company with truly national scope and presence," said Terry J. Lundgren, Federated's chairman, president and chief executive officer.
The proposed deal would turn Federated into a $30 billion national retailer with more than 950 department stores and about 700 bridal and formalwear stores. It would add another 15 states to Federated's 34-state operating base.
"In today's retail environment, competition comes from every conceivable retail format," said John Dunham, May's president and acting chairman and CEO. "To succeed, we have to operate more efficiently and compete more effectively against players at all levels of the retail demographic."
- Hecht's to Macy's switch to begin: Conversion starts at 3 stores Sunday.
- Newspaper article from: Baltimore Sun (Baltimore, MD) April 28, 2006 700+ words
...to "walk" merchandise from Macy's to the former Hecht's, said Elina Kazan, director...said she doesn't really shop Hecht's or Macy's. She prefers J.C. Penney...Rehrig, 61, said she'll shop Macy's once Hecht's closes. Yesterday, she...
- Retail makeover: The challenge for Macy's is to keep Hecht's customers but few...
- Newspaper article from: Baltimore Sun (Baltimore, MD) September 5, 2006 700+ words
...Walker Sep. 5--When Hecht's officially becomes Macy's on Saturday, the aim...that will be sold at all Macy's. Proietto also said Hecht's had a better merchandising...already converted three Hecht's into Macy's stores in the Baltimore...
- Hecht Co. prepares to convert to Macy's nameplate.
- Newspaper article from: Baltimore Sun (Baltimore, MD) February 2, 2006 700+ words
...Burnie will be closed. The Hecht's stores at those malls will be renamed Macy's. The 68 stores to...that the conversion of Hecht's for Macy's will be good first...judgment. "I prefer Hecht's to Macy's. It just has a different...
- Hecht's name to be changed in takeover; Will become Macy's brand.(PAGE ONE)
- Newspaper article from: The Washington Times July 29, 2005 700+ words
...Federated will sell the Hecht's at Westfield Wheaton, where a Macy's opened in May...convert the existing Hecht's into a Macy's. However, Federated...Shoppingtown in Wheaton. Macy's is a Federated brand, while Hecht's was a May brand...
- Hecht's name to be changed in takeover to Macy's.
- Newspaper article from: Washington Times (Washington, D.C.) July 29, 2005 700+ words
...will be switched to Macy's: Famous-Barr...s, Foley's, Hecht's, the Jones Store...Federated will sell the Hecht's at Westfield Wheaton, where a Macy's opened in May...convert the existing Hecht's into a Macy's. However, Federated...
- Goodbye, Hecht's. Hello, Macy's.(Business)
- Newspaper article from: The Virginian Pilot July 29, 2005 700+ words
...end of next year, Macy's will replace Hecht's department stores...regional chains to the Macy's name, moving...a national brand. Hecht's stores in Virginia...Federated's flagship Macy's brand sometime in fall 2006. Hecht's has six Hampton...
- Goodbye, Hecht's. Hello, Macy's.
- Newspaper article from: The Virginian-Pilot (Norfolk, Virginia) (via Knight-Ridder/Tribune Business News) July 29, 2005 700+ words
...end of next year, Macy's will replace Hecht's department stores...regional chains to the Macy's name, moving...a national brand. Hecht's stores in Virginia...Federated's flagship Macy's brand sometime in fall 2006. Hecht's has six Hampton...
- Macy's ready for switch: On Sept. 9, Hecht's will become a Macy's store.
- Newspaper article from: Roanoke Times (Roanoke, VA) August 24, 2006 700+ words
...with most current Hecht's employees, will...when it converts to Macy's. Merchandise...Marla Shavin, another Macy's spokeswoman...merchandise compared to Hecht's prices, depending...shopped at Macy's. "Macy's is good quality...said, after leaving Hecht's at Valley View...
