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Article: Shopping Spree.(Federated Department STores acquires May Department Store)
- Article from:
- U.S. News & World Report
- Article date:
- March 14, 2005
- Author:
CopyrightCOPYRIGHT 2005 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Having spent the better part of his adult life in retail, Federated Department Stores CEO Terry Lundgren has plenty to say about the nature of selling. But when it comes to his personal retail philosophy, the 52-year-old Lundgren is a man of surprisingly few words: "I believe that if you can't buy it at Bloomingdale's or Macy's," he says, "you don't need it."
If only more shoppers shared Lundgren's point of view and spent a little less time and money at Neiman Marcus, Nordstrom, and Wal-Mart, he might not be in the position he is today: presiding over the creation of a retail colossus that could either reshape and revitalize the American department store or seal ...