Federated Builds 1,000-Store Clout ; $11b Acquisition of May Helps It Gain Edge in Retail Arena

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DAYTON -- Federated Department Stores Inc.'s purchase of rival May Department Stores Co. for $11 billion will allow Federated to build an empire of more than 1,000 stores and generate billions of dollars in sales.

Federated, based in New York and Cincinnati, made its move to gain a competitive edge against discount retailers such as Wal-Mart while still catering to upscale merchants, company officials said Monday.

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Federated Builds 1,000-Store Clout ; $11b Acquisition of May Helps It Gain Edge in Retail Arena

"This is truly an exciting day in American retailing," said Terry J. Lundgren, Federated's chairman, president and chief executive officer. "We have taken the first step toward combining two of the best department s...

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