Home & Textiles Today Staff -- Home Textiles Today, January 19, 2004
Federated to close underperforming stores
CINCINNATI — Federated Department Stores said it's closing five underperforming Rich's-Macy's and Lazarus-Macy's stores by May.
The stores are Rich's-Macy's in Century Plaza, Birmingham, Ala., and the Cobb Center store in Smyrna, Ga., and Lazarus-Macy's stores in Westerville and Oxford, Ohio, and Pittsburgh.
Home Depot not planning to cross the pond
ATLANTA — For the near future, The Home Depot is concentrating on growing its base in North America only, though it remains cognizant of international opportunities. It is the worst time to do an international acquisition, executives said at its analyst and investor conference last week, given the current exchange rate. With 175 additional units planned for fiscal 2004, the retailer expects sales to grow between 9 and 12 percent.