What's in a name? Federated, the Cincinnati-based department store chain, is about to find out.
Federated wants to change the name of the company to Macy’s Group at the annual meeting in May. If approved by shareholders, the new name will go into effect in early June.
Federated’s CEO Terry Lundgren discussed his company’s name change on Squawk Box this morning. “We’re no longer a federation of regional stores. Macy’s is 90% of our business”, said Lungren.
But, is making itself into Macy’s a smart business move?