Federated looks to build on textiles
February 9, 2004,
NEW YORK — Although the centralization of Federated Department Stores’ buying and merchandising divisions will impact 425 jobs, the company expects to add personnel, management and regional coordinators for home textiles.
"We’ve been tremendously successful with our designer brands and our own Hotel Collection. We will continue to strengthen those. We have the ability to sell fine linens," said Terry Lundgren, chairman, president and CEO.
As for product development and the changes ahead, Lundgren said, "There will be one decision maker, not five (divisions) and they will know up front whether there is product needed for opening price points or higher end. The decision process will be faster, easier and clearer."
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