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The invincible confederacy In 1929 the heads of four retail giants - Bloomingdale's, F&R Lazarus, Abraham & Strauss, and Filene's - met on a yacht in Long Island Sound. The powerhouse meeting resulted in Federated Department Stores - then a loose federation of stores pledged to help each other weather the whims of local economic fluctuations. The company was threatened in the 1980s by newcomers like Nordstrom and Dillard, but Federated now stands as the largest department store operator in the U.S., catering to every region of the country through more than 400 Macy's, Bloomingdale's, Bon Marche, Burdines, Rich's and Stern's stores. A good catch offset by scandal The company's 1994 acquisition of debt-ridden Macy's proved a successful part of the company's continuing growth strategy to purchase small, regional chains. The Macy's stores in New York's Herald Square and San Francisco's Union Square combined with Bloomingdale's flagship store in New York to deliver about 10 percent of Federated's sales. Recent Justice Department allegations of "sweatshop" patronage have tarnished the company's reputation, but its bottom line has not been affected. In 1997, CEO Allen Questrom turned his post over to president James Zimmerman. In early 1998, the company calmed complaints that it had collected debts from bankrupt credit card holders illegally with a costly settlement of $10.6 million. That settlement, combined with the company's recent acquisitions, had Federated facing the challenging task of climbing out of debt while increasing profits. Federated has had further legal problems. In early-2000, Sephora USA LLC filed suit against Macy's, claiming that the Federated subsidiary had copied its cosmetic "look." Bloomingdale's San Francisco store has also been disputing with labor unions there. Shopping for a solution Federated also reaches its customers through the mail, offering catalogs for its Macy's and Bloomingdale's chains. Meanwhile, the company has heeded the siren call of e-commerce and revamped its Macys.com and Bloomingdales.com sites. In 1999, Federated purchased Fingerhut Companies, a catalog and Internet retailer, for $1.5 billion; and it acquired a 20 percent stake in online bride magnet, WeddingChannel.com, to which it will connect its bridal registries. The company's efforts seem to be working, as fourth quarter results in 1999 exhibited increased profits.
In the "fast-paced, ever-changing world of retail," one Federated insider reports, "willingness to change is paramount to success." In many cases, experience in the retail industry doesn't hurt either. Federated Department Stores is organized into seven store divisions, including Macy's and Bloomingdale's, and four support operations groups. Each division and group has its own special training program that provides the proper orientation, from the local store to the corporate level. Though the interview process varies by division, many should prepare for testing and technical questions. The company is noted for its superior job training programs and adheres to a policy of promoting from within. However, some departments, such as Technology, recruit at colleges and job fairs and through referral programs. Applicants should consult the company's web site, located at www.federated-fds.com, in order to construct a resume online and send it directly to Federated. The web site also provides a descriptive list of the training programs, as well as job opportunities and contact addresses for each of the company's divisions.
Fast-paced environment A company that is trying to "change the face of the retail industry," Federated Department Stores offers employees an "energetic, fast-paced" atmosphere "on the cutting edge of retail and electronic commerce technology," where one insider attests, "you'll never get bored." However, one insider reports, "They want to be on the cutting edge of technology, but they don't want to spend the money." Though financial problems have also put Federated on the downsizing bandwagon, employees comment that "whenever there has been any kind of layoffs or cutbacks, Federated has always gone the extra mile to help people find new jobs." Though pay is described as "pretty competitive," insiders say there is lots of room to move up. One creative insider in the Technology department reports, "If you become a thermostat instead of a thermometer, you'll get paid better than your peers - meaning you should seek to be a solutions provider and a leader, not just someone who punches a clock and does their time." Different strokes "Every Federated division has its own style," reports one insider, with dress ranging from corporate formal to business casual. Hours also vary by division, though one insider notes, "If you want to move your career forward, it will require working a little more than the next person." One thing that shouldn't stop your forward momentum - ovaries. Insiders say that with so many female employees, Federated can't discriminate by gender. One insider reports, "I am very impressed with the company's treatment of women and minorities. There are plenty of leaders and supervisors that are women." Still, Federated felt the need to spend "millions of dollars over the next few years on diversity training," according to one contact, who added "Only time will tell if it worked." Along with perks such as merchandise discounts, company gyms, and free sports tickets, employees enjoy the "immediate" name recognition of stores like Bloomingdale's and Macy's. The vaunted job training programs, moreover, "live up to the hype." Another plus for schmoozers - everyone, including the company's president, wears a name tag. One former employee notes, "I liked that a lot - I could always remember names!"
Human Resources
Dayton Hudson More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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