Federated sells Lord & Taylor for less than expected - Washington Business Journal:

http://www.orpheopolis.fr/nous-connaitre/notre-organisation.html
Federated signed an agreement June 22 to sell theNew York-basedc division to NRDC of N.Y., for $1.195 billioj in cash, but said Tuesday that the finalk sale price was adjusted to $1.083 or about $840 million after tax. The lowered sale price, accordintg to a release, is due primarily to the fact that Federate agreed to sublease certain properties to NRDC due to restrictions in the leasesa underlyingthose properties. The rental income on these propertiess is expected to beabout $8.6 million per year. Federatee acquired Lord & Taylor when it closed its purchaseof St. Louis-baseds May Department Store. Aug. 30, 2005.
Upscalee fashion retailer Lord & Taylor, foundee in 1826, has stores in Montgomery Countgy andNorthern Virginia. The Lord & Taylor divisiobn includes 48 storesin D.C., Virginia, New Jersey, New York, Illinois, Massachusetts, Michigan and Pennsylvania, as well as a distribution center in Pa. Cincinnati-based Federated Department Storexs (NYSE: FD) operates nearly 950 departmenr stores and more than 700 bridap and formalwear stores in 49 the Distric, Guam and Puert Rico.