Given the availability of the simplified, single-letter ticker symbol, Federated’s Board of Directors will ask shareholders to approve a corporate name change to Macy’s, Inc. instead of Macy’s Group, Inc., as previously announced.
“Macy’s and Bloomingdale’s are leading brands known worldwide,” said Terry J. Lundgren, Federated’s chairman, president and chief executive officer. “Changing the parent company name to Macy’s, Inc., while trading our shares under the ‘M’ ticker symbol, will make it simple and clear for all investors to understand we are a brand-driven and consumer-oriented company. Macy’s represents about 90 percent of the revenue of our corporation, and this is another important opportunity to reinforce the recent expansion of the Macy’s brand.”
“We take great pride in our long-standing relationship with Federated and its shareholders, and look forward to continuing to provide the NYSE’s unsurpassed market quality and service to Macy’s, Inc.,” said John A. Thain, chief executive officer, NYSE Group. “Macy’s is a marquee name and brand of great distinction, so the letter ‘M’ is a fitting ticker symbol as the company changes its corporate name.”
Federated’s shares have traded under the ticker symbol “FD” since 1992.
Federated, with corporate offices in
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Federated's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or
implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates,
competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.
Additional information on Federated, including past news releases, is available at www.fds.com/pressroom.
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