Fewer Federated promos

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Federated Department Stores, Cincinnati, said it will reduce the number of special promotional events and lower everyday prices. The company cited the shift in strategy for a negative impact on first-quarter sales. The so-called "credible pricing" strategy started in home-related lines in the past six months but will ultimately impact many store divisions. Federated's chains include Bloomingdale's, Macy's, Rich's, Burdines and Bon Marche.

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