Macy's 2002 Annual Report Download - page 4

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A BUTTERFLY EMERGING FROM ITS CHRYSALIS IS A SYMBOL OF
EVOLVING CHANGE. INTERWOVEN IN THE FABRIC OF A COMPANY
IS THE STRENGTH TO EMBRACE AND MANAGE THAT CHANGE. THESE
TWO ELEMENTS COME TOGETHER IN FEDERATED AS ANOTHER YEAR
BEGINS, AS WE CONTINUE TO REDEFINE THE DEPARTMENT STORE
AND EVOLVE OUR COMPANY. SUCH A TIME OFFERS PROMISE EVEN
AS CHANGE BRINGS ITS INEVITABLE CHALLENGES. IT IS THE YIN AND
YANG OF ANTICIPATING THE FUTURE. AND IT IS IN MEETING THESE
CHALLENGES THAT THE MANY THREADS IN THE STRONG FABRIC OF
FEDERATED CONSISTENTLY PROVE THEMSELVES TO BE A CUT ABOVE.
For a look at financial highlights, please open this flap.
Fabric
of FEDERATED
The