Macy's department store, Boston, Massachusetts. (AP)
Retail Mega-Merger Story aired: Monday, February 28, 2005
Another big corporate merger is in the works. Federated Department Stores -- which runs Macy's and Bloomingdale's -- will take over May Department Stores, known for its Marshal Fields and Lord & Taylor chains. The combined company would form a retailing giant with more than 950 stores in 49 states. It's an $11 billion deal that is expected to result in store closings and job cuts. And it may also mean the end of the line for some well known regional stores like Filene's.
