A single, billion-dollar organization is formed with the merger of Federated’s Shillito-Rikes of Cincinnati and Columbus-based Lazarus. With headquarters in Cincinnati, the division operates under the Lazarus name.
Campeau Corporation acquires Allied Stores Corporation, which is reorganized under the merger agreement.
In what was then retail’s largest acquisition, May Company acquired Associated Dry Goods and added Lord & Taylor, J.W. Robinson’s and L.S. Ayres, among others, to its collection of regional department stores.