Macy's 1999 Annual Report Download - page 3

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Federated Department Stores, Inc. is the nation’s leading operator of premier department
stores, with more than 400 department store locations in 33 states. In addition, Federated’s
direct-to-customer operations include wholly owned e-commerce sites within its Fingerhut,
macys.com and bloomingdales.com operations, as well as national direct mail catalog titles
within its Fingerhut, Bloomingdale’s By Mail and Macy’s By Mail subsidiaries.
Federated’s corporate structure capitalizes on the strengths of its divisions and subsidiaries
while bringing new dimensions of retailing innovation, operating efficiencies, financial
leverage and strategic growth opportunities to the company’s operations.
Community Involvement
Each Federated department store division and direct-to-customer subsidiary is well
established in its operating areas.
The company believes in giving back to the communities from which it draws strength and
sustenance. Federated understands that stronger, healthier and more vibrant communities
provide better environments for our stores to do business and for our employees and
customers to live and work.
In 1999, cash contributions to charitable organizations by Federated, its divisions and
subsidiaries – including those made by the Federated Department Stores Foundation – totaled
approximately $15.4 million. A significant and growing percent of direct giving was devoted
to two areas of strategic focus – women’s issues and HIV/ AIDS.
Partners in Time, the company’s nationally recognized employee volunteer program, involves
all divisions and support operations. In 1999, more than 47,000 volunteers gave nearly
97,500 hours of time – touching nearly every segment of American society.
Diversity
As a leading retailer in some of America’s largest and most diverse metropolitan areas,
Federated prides itself on aggressively encouraging inclusion of individuals of all types within
its workforce, vendor relationships and customer base. Management’s philosophy is intended
to help ensure that appreciation for the unique characteristics and strengths of every person is
pervasive at every level of the company.
Of Federated’s total workforce, approximately 75 percent are women and 42 percent
belong to a racial minority group. In management ranks, 67 percent of our executives are
women and 21 percent are racial minorities. This places Federated among the leaders in
diversity in our industry, as well as among major U.S. corporations.
Additionally, Federated’s vendor development program seeks to source goods and services
– either for resale or in support of business operations – from qualified minority-and women-
owned enterprises. In 1999, these purchases totaled approximately $304 million.
A Profile of Federated
A Profile of Federated