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January 23, 2002

USA: Federated Axes Two Macy’s Stores

Retail giant Federated Department Stores Inc has revealed it will close two Macy's stores in Alabama and Georgia this spring. The firm's Macy's stores at Riverchase Galleria in Birmingham and Augusta Mall in Augusta will begin liquidation sales early this spring. In a statement, Federated said it intends to make the space available for third parties, or possibly use the space to expand the presence of its Rich's/Lazarus/Goldsmith's division which currently operates Rich's stores in both centres.

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