RETAIL TRADE: New Chain

As president of Federated Department Stores, Fred Lazarus Jr. keeps as sharp an eye on population changes as the census bureau. "The U.S.," he likes to say, "is currently undergoing a highly significant population movement." -Nowhere is the movement greater than in the West and Southwest, where some cities have grown 80% in the last ten years compared to a 15% overall U.S. growth. This week, Fred Lazarus thought it time to cash in on the "highly significant movement." He announced that Federated, the third biggest department-store chain in the U.S., will invest $20 million in a new link...

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