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Tim Adams Named Chairman of Macy's Home Store Division

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Federated Department Stores, Inc announced that Timothy M. Adams has been named chairman of the Macy's Home Store, effective July 25th. Adams, who has served as chairman of the Miami-based Macy's Florida division since April 2001, succeeds Eric Salus as head of the Macy's Home Store division. Salus, who has resigned to pursue other interests, was president of the division since its April 2004 inception. Macy's Home Store, headquartered in New York, is responsible for the centralized buying, merchandising and marketing of home furnishings for the company's 423 Macy's stores nationwide. "Getting the Macy's Home Store organization off the ground was a daunting task, and we appreciate Eric's contributions to this effort," said Federated Vice Chair Janet Grove, to whom the Macy's Home Store operation reports. "We also are very excited to have Tim Adams in this important position. He is an accomplished retail executive who we believe will be able to take this organization to the next level, driving increased sales by ensuring that our home assortments - from furniture to accessories - reflect the kind of product newness and uniqueness that our customers expect to find at Macy's." A successor to Adams as chairman of the 61-store Macy's Florida division will be named shortly, joining with N. K. "Trip" Tripathy, president, and J. David Scheiner, vice chair and director of stores. Adams, 51, previously served as president of the former Bon Marche (now Macy's Northwest) division, based in Seattle, WA, from 1998-2001. He began his retail career at Macy's in Atlanta in 1976. In 1989, Adams joined the San Francisco-based Macy's West division as a merchandise administrator, being promoted to group vice president in 1991 and senior vice president the following year. He was named executive vice president/general merchandise manager of Macy's West in 1994. A native of Atlanta, Adams holds a degree in finance from the University of Georgia. He and his wife, Jeanette, currently reside in Miami. Federated, with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with annual sales of more than $15.6 billion. Federated operates more than 450 department stores in 34 states, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and Bloomingdale's By Mail.

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