Federated Department Stores Inc. (Cincinnati) announced that it is exploring the possible acquisition of the Marshall Field's department store group from Target Corp. (Minneapolis).
Target had announced last month that it intended to review alternatives for the 62-store division, including a possible sale. Both companies said that no additional details concerning ongoing talks will be made available.
Marshall Field’s is the department store group that includes all the former Dayton’s and Hudson’s stores as well as Field’s. It did about $2.7 bllion in sales in 2003, down 4.9 percent from the previous year. Federated’s more than 450 stores, under the Bloomingdale’s, Macy’s, Macy’s West, Bon-Macy’s, Burdines-Macy’s, Rich’s-Macy’s, Lazarus-Macy’s and Goldsmith’s-Macy’s nameplates, do roughly $15 bllion a year in sales.