US: Federated aims to boost sales with revamped May stores
Exclusive lines, demographic targeting and in-store improvements are the backbone of Federated Department Stores' (FD) plans to lift sales at the 400-plus outlets it acquired from May Department Stores last year.
The stores, which are set to reopen in September under FD's Macy's banner, will target particular regional demographic groups with exclusive fashions and merchandise, in a bid to prevent "sameness" across the expanded Macy's chain.
Chairman and chief executive Terry J Lundgren also told investors that the stores would introduce more exclusive clothing lines from high-profile designers, such as Elie Tahari and Oscar de la Renta.
"These relationships were not possible before," he said, adding that following the US$11bn May acquisition, FD was now "meaningful enough for [these designers] to sell this to us on an exclusive basis."
Lundgren added that FD hoped to improve the performance of the former May stores' private label business - described as its "worst performing" - by introducing FD private labels such as INC and Alfani.
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