Name Change From Federated Department Stores, Inc. Requires
NEW YORK--(BUSINESS WIRE)--March 28, 2007--Federated Department
Stores, Inc. (NYSE:FD) (NYSE Arca:FD) and NYSE Group, Inc. (NYSE:NYX)
today announced that Federated shares will begin trading under the
ticker symbol "M" on the New York Stock Exchange, effective June 1,
2007, assuming shareholders approve a corporate name change in
association with Federated's Annual Meeting on May 18, 2007.
Given the availability of the simplified, single-letter ticker
symbol, Federated's Board of Directors will ask shareholders to
approve a corporate name change to Macy's, Inc. instead of Macy's
Group, Inc., as previously announced.
"Macy's and Bloomingdale's are leading brands known worldwide,"
said Terry J. Lundgren, Federated's chairman, president and chief
executive officer. "Changing the parent company name to Macy's, Inc.,
while trading our shares under the 'M' ticker symbol, will make it
simple and clear for all investors to understand we are a brand-driven
and consumer-oriented company. Macy's represents about 90 percent of
the revenue of our corporation, and this is another important
opportunity to reinforce the recent expansion of the Macy's brand."
"We take great pride in our long-standing relationship with
Federated and its shareholders, and look forward to continuing to
provide the NYSE's unsurpassed market quality and service to Macy's,
Inc.," said John A. Thain, chief executive officer, NYSE Group.
"Macy's is a marquee name and brand of great distinction, so the
letter 'M' is a fitting ticker symbol as the company changes its
Federated's shares have traded under the ticker symbol "FD" since
Federated, with corporate offices in Cincinnati and New York, is
one of the nation's premier retailers, with fiscal 2006 sales of $27
billion. Federated operates more than 850 department stores in 45
states, the District of Columbia, Guam and Puerto Rico under the names
of Macy's and Bloomingdale's. The company also operates macys.com,
bloomingdales.com and Bloomingdale's By Mail.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements
are based upon the current beliefs and expectations of Federated's
management and are subject to significant risks and uncertainties.
Actual results could differ materially from those expressed in or
implied by the forward-looking statements contained in this release
because of a variety of factors, including conditions to, or changes
in the timing of, proposed transactions, prevailing interest rates,
competitive pressures from specialty stores, general merchandise
stores, manufacturers' outlets, off-price and discount stores, new and
established forms of home shopping (including the Internet, mail-order
catalogs and television) and general consumer spending levels,
including the impact of the availability and level of consumer debt,
the effect of weather and other factors identified in documents filed
by the company with the Securities and Exchange Commission.
Additional information on Federated, including past news releases,
is available at www.fds.com/pressroom.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the
New York Stock Exchange LLC (the "NYSE") and NYSE Arca, Inc. (formerly
known as the Pacific Exchange). NYSE Group is a leading provider of
securities listing, trading and market data products and services. In
2006, on an average trading day, 2.3 billion shares, valued at $86.8
billion, were traded on the exchanges of the NYSE Group.
The NYSE is the world's largest and most liquid cash equities
exchange. The NYSE provides a reliable, orderly, liquid and efficient
marketplace where investors buy and sell listed companies' common
stock and other securities. On December 31, 2006, the operating
companies listed on the NYSE represented a total global market
capitalization of $25.0 trillion.
NYSE Arca, Inc. operates the former ArcaEx(R), the first open,
all-electronic stock exchange in the United States, which has a
leading position in trading exchange-traded funds and exchange-listed
securities. NYSE Arca, Inc. is also an exchange for trading equity
options. NYSE Arca, Inc.'s trading platforms provide customers with
fast electronic execution and open, direct and anonymous market
NYSE Regulation, an independent not-for-profit subsidiary,
regulates member organizations through the enforcement of marketplace
rules and federal securities laws. NYSE Regulation also ensures that
companies listed on the NYSE and NYSE Arca meet their financial and
corporate governance listing standards.
For more information on NYSE Group, go to www.nyse.com.
Media - Jim Sluzewski, 513-579-7764
Investor - Susan Robinson, 513-579-7780
Media - Richard Adamonis, 212-656-2140
SOURCE: Federated Department Stores, Inc.