The department store 'survivors' - now down to just a gang of four. (column)

From: Daily News Record | Date: December 12, 1989| Author: | Copyright information

THE DEPARTMENT STORE `SURVIVORS' -- NOW DOWN TO JUST A GANG OF FOUR

NEW YORK (FNS) -- With Federated Department Stores and Allied Stores in a cash bind and R.H. Macy & Co. dealing with a debt load that requires about 10 cents of every sales dollar for debt service, the major publicly-owned department store group has dwindled down to four.

A recent, generally optimistic report by David A. Poneman, research analyst for Sanford C. Bernstein, focuses on the soundly capitalized department stores which it calls "survivors." These are May Department Stores Co., Mercantile Stores ...

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