Press Release
| Macy's, Inc. To Trade As ''M'' On NYSE |
Name Change From Federated Department Stores, Inc. Requires Shareholder Approval 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 corporate name." Federated's shares have traded under the ticker symbol "FD" since 1992. About Federated 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 access. 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.
CONTACT: Federated |