Macy's 2006 Annual Report Download - page 15
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Beyond the storefronts and sales floors, Federated’s
business benefits from some of the retail industry’s
most professional, proficient and efficient support
organizations. We continue to invest in people, facilities
and technology that add value to the customer’s shop-
ping experience, as well as improve the corporation’s
financial performance for shareholders.
We have made particular progress in streamlining
logistics, enhancing systems and leveraging credit so
we can reap the benefits of being a larger and more
focused company going forward.
Through the integration of Federated and May Company,
we met our goal of capturing more than $175 million
in cost synergies in 2006. And we’re on track to realize
more than $450 million in annual cost synergies in 2007
and beyond.
This isn’t solely a matter of reducing costs by eliminat-
ing redundancy. Post-merger, Federated is able to take
advantage of doing business on a larger scale. While
reducing overall costs, we are able to invest incremen-
tally in the best talent, facilities, hardware, software,
systems and business processes – all customized to
our specific business needs.
Indeed, Federated is becoming a stronger company
that is laying the foundation for increased financial
performance in the years ahead.
Strengthening the Infrastructure