• M (NYSE)
  • $60.56
  • -0.07

1950-1979

1951
Allied acquires New Jersey’s Stern Brothers, later known as Stern’s.
1956
Miami-based Burdines becomes a division of Federated.

May Company begins operating May D&F in Denver.
1957
Seventeen-year-old designer-to-be Ralph Lauren sells sweaters at Bloomingdale’s over Christmas week. The following year, he joins Allied Stores as assistant menswear buyer.
1959
Federated acquires Dayton, Ohio-based Rike’s and Memphis-based Goldsmith’s.

May Company acquires Hecht’s in Washington, D.C., and Baltimore.
1962
Allied acquires the William H. Block Company of Indianapolis.
1964
Federated breaks the 10-figure barrier for the first time, netting annual sales of $1.215 billion. Federated acquires Los Angeles’ Bullock’s and I. Magnin.
1966
May Company acquires Meier & Frank in Portland, OR.
1967
Allied also passes the billion dollar mark, with annual sales of $1.024 billion.
1968
Black Retail Action Group (BRAG), founded in part by Abraham & Straus executives, gives technical assistance to minority-owned businesses and scholarships to retailing students. This furthers the A&S commitment to African-Americans. The company was the country’s first major retailer to sign up for Plans for Progress, President Kennedy’s commission on job opportunities for African-Americans.
1976
Through an exchange of common stock, Federated acquires Atlanta-based Rich’s.