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The Honolulu Advertiser
Posted on: Wednesday, June 20, 2001

A look at Liberty House, FDS and Macy's

 •  Macy's pledges to keep spirit of Liberty House
 •  Q&A: Retailer Macy's says it's here for long haul
 •  Demise of Hawai'i's oldest retail store chain saddens many
 •  Details of sale ensure most of 3,000 workers will be retained
 •  Liberty House buyer follows proven strategy
 •  Lee Cataluna: Liberty House came through for local folks
 •  Graphic: Liberty House chronology
What do you think of the Liberty House purchase? Join our discussion.

Advertiser Staff

Federated Department Stores Inc.'s acquisition of kama'aina retailer Liberty House brings together companies that can claim long histories and bankruptcy survival.

Liberty House

Founded: In 1849. Established as H. Hackfeld & Co., a mercantile trading operation set up by Capt. Heinrich Hackfeld to supply Hawai'i sugar plantations.

Operations: Headquarters in Honolulu; 12 department stores and seven resort and specialty shops in Hawai'i and Guam

Chairman or president: John Monahan, president

Number of employees: 3,000

Annual sales, net income (2000): $289 million, $8.9 million

Bankruptcy history: Emerged from Chapter 11 in March after nearly three years

Notable: For at least two years has carried Federated brands as its private-label merchandise

Founded: In 1929. Established as a holding company by several family-owned department stores

Operations: Headquarters in Cincinnati; 432 stores in 33 states and Puerto Rico under the names Macy's, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus and Rich's

Chairman or president: James M. Zimmerman, chairman

Number of employees: 133,000

Annual sales, net income (2000): $18.4 billion, $637 million

Bankruptcy history: Emerged from Chapter 11 in 1992 after a little more than two years

Notable: No. 110 on last year's Fortune 500 ranking of the largest U.S. companies based on 2000 revenue

Founded: In 1858. Established by Rowland H. Macy as R.H. Macy & Co., a dry goods store in New York City

Operations: Headquarters in San Francisco and New York; about 228 stores in 21 states and Puerto Rico. Macy's is Federated's largest chain.

Chairman or president: Jeremiah J. Sullivan (Macy's West), and Hal Kahn (Macy's East), chairmen

Number of employees: 58,000

Annual sales, net income (2000): $9 billion, n/a

Bankruptcy history: Emerged from Chapter 11 in 1994 after three years

Notable: Herald Square store in New York is 2.2 million square feet, bigger than Ala Moana Center, which is 1.8 million square feet

Sources: Companies, company Web sites