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    Lakewood Center Macy's, Los Cerritos Center Robinsons-May Among Several Southland Locations Closing In 06 In Corporate Post-Merger Plan

    (July 29, 2005) -- The Lakewood Center Macy's and Los Cerritos Center Robinsons-May locations will close in 2006 as part of a corporate post-merger plan, two of several southland locations similarly affected.

    In a written release, Federated Department Stores, Inc. said that as part of its plan to add about 330 Macy's locations nationwide in 2006 by converting regional department store nameplates to be acquired in a pending merger with May Department Stores, it identified "68 duplicate locations in 66 malls which will be divested starting in 2006" including "41 current May Company stores operating in 12 states under various nameplates."

    The Lakewood Center Macy's (opened 2000, 254 employees) and Los Cerritos Center Robinsons-May (opened 1971, 224 employees) are on the "divestiture" list.

    Other locations affected are Macy's stores in Riverside, San Bernardino, Mission Viejo and West Covina and Robinsons-May locations in Torrance, Culver City, Glendale, Santa Ana, Northridge, Thousand Oaks, Arcadia and Santa Monica.

    The release added, "Divestiture of duplicate May Company and Macy's locations will begin in 2006. They will be offered for sale to landlords, developers and interested third parties. Federated said it intends to comply with all existing lease and operating agreements, and the divestiture of certain locations will be subject to the satisfactory completion of negotiations with various third parties." The company said its locations identified for divestiture "accounted for approximately $2 billion of 2004 sales."

    Regarding workers, the company said it would honor a pledge made previously to May Company associates that there would be no workforce reductions or job eliminations as a result of the merger prior to March 1, 2006.

    It added, "Once duplicate stores are divested, the remaining Macy's in that location will include employees from both locations. The company expects to employ all management personnel in good standing from both stores and to offer positions to the vast majority of associates."

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