Among those participating in the review are WestWayne, Atlanta; Grey Global Group's Grey Worldwide, Atlanta and New York; Interpublic Group of Cos.' Temerlin McClain, Irving, Texas, SFI, New York; and Emergence, Atlanta.
A Rich's spokesman said the five shops have made presentations and a decision is pending.
The Federated division has 77 stores: Rich's with 27 in three Southeastern states; Lazarus with 44 in five central states; and Goldsmith's with six in Tennessee. The three brands spent a combined $93 million on advertising in 2001, according to Taylor Nelson Sofres' CMR.
The spokesman noted, however, that the chains will continue to work with the division's in-house agencies on day-to-day marketing communications.