THE LOWE-DOWN ON FEDERATED ADS: Federated Department Stores Inc. has selected the New York-based Lowe advertising agency to create an electronic and print campaign for its largest store brand, Macy’s. Initially, the project will focus on television for the fourth-quarter holiday period. It will be the first time that the Macy’s brand — including Macy’s East, Macy’s West and the newly named Atlanta-based Rich’s-Macy’s stores — will have a common voice. “The search for an agency…reinforced for all of us the power of one of our most important and yet underutilized assets — the Macy’s brand,” said Terry J. Lundgren, Federated’s president and chief executive, in a statement. Lundgren said 40 agencies were reviewed before selecting Lowe. He noted that the individual Macy’s divisions would continue to create, produce, market and promote their day-to-day businesses.
DILLARD’S SELLS INTEREST IN TEXAS MALL: Dillard’s Inc. has sold its interest in Sunrise Mall and its associated center, Sunrise Commons, both in Brownsville, Tex., to CBL & Associates Properties for $80.7 million, including the assumption of $40 million of long-term debt from Dillard’s. The company owned the properties in partnership with The MGHerring Group of Dallas. The transaction does not include the Dillard’s store facility, which Dillard’s will continue to operate as an anchor at Sunrise Mall. Dillard’s opened the 175,000-square-foot store in July 2000 in conjunction with the mall’s extensive renovation and expansion program.