MACY'S ANNOUNCES MERGER WITH MAY STORES

Terry Lundgren, president, chair and CEO of Federated Department Stores which owns Macy's, listens as a reporter asks him a question during a press conference where he announces that Federated and Mays Department Store has entered into a merger agreement February 28, 2005 in New York City. The deal, which was approved yesterday, will establish Federated as a $30 billion national retailer operating more than 950 stores. (UPI Photos/Monika Graff)