Gordon Brothers Group Entrusted with Divesting Inventory in Existing Store Locations for Federated Department Stores

Press Release

Federated Department Stores, Inc. has engaged Gordon Brothers Group, LLC as its exclusive agent to support the Federated divestiture of over 80 duplicate store locations. Federated, which acquired The May Department Stores Company in a recent merger, is disposing of inventory as it converts nearly all May Company division department store nameplates to Macy’s in the fall of 2006.

“The manner in which these store divestitures are handled plays a vital role in the overall perception of the Macy’s brand,” said Bradley Snyder, Principal and Managing Director, Gordon Brothers Group. “With over 100 years of experience, Gordon Brothers Group is the only company that has the management, operations and merchandising expertise to undertake a divestiture of this magnitude while maintaining the integrity of the Macy’s brand.”

By crafting a customized program and micro-managing implementation with over 200 Gordon Brothers field consultants, Gordon Brothers Group has freed up Federated’s management to focus on ongoing and future initiatives that will continue to develop its Macy’s brand nationally. The May Company division department store nameplates to be divested by Gordon Brothers Group include: Famous-Barr, Filene’s, Foley’s, Hecht’s, Kaufmann’s, Marshall Field’s, Meier & Frank, Robinsons-May and Strawbridge’s.

“Our entire organization is honored that Federated has entrusted us with protecting the Macy’s brand at a time of significant change and growth,” said Mark Schwartz, Gordon Brothers Group’s President and Chief Executive Officer.

Mr. Schwartz further remarked that Federated’s commitment is just one more example of how experience, innovation, and integrity play an integral role for Gordon Brothers Group in managing complex transactions on behalf of its clients.

About Gordon Brothers Group, LLC
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) provides global advisory, operating and financial services to companies at times of growth or restructuring. Gordon Brothers Group purchases and/or sells in excess of $10 billion in assets (including inventory, real estate, industrial assets, accounts receivable and intellectual property) annually and appraises over $30 billion in assets. The firm also provides debt financing and equity capital to consumer products companies, and facilitates mergers and acquisitions with strategic partners. Gordon Brothers Group is headquartered in Boston, MA and maintains 20 offices worldwide.