USA: FDS Overhaul Leads To Store Closures
Federated Department Stores today announced plans to close its New Jersey-based Stern's department store division, converting 19 of Stern's 24 locations in New York and New Jersey to Macy's and Bloomingdale's. James M. Zimmerman, Federated's chairman and chief executive officer, said the decision will enable the company to expand Macy's and Bloomingdale's presence in the region, further strengthening these brands in their home markets.
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