Famous-Barr stores to take on Macy's name in '06

Macy's will replace locally familiar names including Filene's in New England and Famous-Barr in the Midwest in some 330 stores across the nation under post-merger plans announced Thursday by Federated Department Stores Inc.

Federated also plans to sell 68 stores, including 27 current Macy's, next year because they overlap in markets with the company Federated is buying, May Department Stores Co.

The stores employ 13,500 people, but Federated spokesman Jim Sluzewski said he expected "very few, if any" layoffs and that most workers would be offered other jobs.

Federated has pledged not to cut any jobs before March 1.

The Cape Girardeau Famous-Barr will be unaffected by the closings.

The store is expected to take the Macy's name some time in fall 2006, giving Cape Girardeau a name in department store shopping the city has never had before.

Whether the change will affect the number of employees at the local store is still uncertain, and May's central office in St. Louis didn't supply how many workers the Cape Girardeau Famous-Barr currently employs.

Ten May nameplates will be eliminated in fall 2006, Federated said as the Cincinnati-based company laid out what it has in store after its takeover of rival May becomes final.