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Federated Seeks Name Change to Macy’s Group Inc.

Federated Department Stores Inc., owner of Macy’s and Bloomingdale’s stores, plans to ask shareholders to agree to change the name of the company.

The board of directors of Federated will ask shareholders to change the company’s name to Macy’s Group Inc., writes DM News. The name change would give the company greater visibility in the financial community, according to marketing strategist Al Ries, chairman of Ries & Ries.

A vote on the new name will take place in May. If the name is accepted, it will go into effect June 1.

Federated reported yesterday that same store sales were up 6.1 percent during the fourth quarter ended Feb. 3, while total sales were down 4.3 percent. Federated’s fiscal 2006 sales increased 20.5 percent over fiscal 2005.

Federated recently completed a conversion of local stores such as Marshall Fields and Filene’s to the Macy’s brand.