May Department Stores Company | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-06

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/The_May_Department_Stores_Company


00:01:20 1 History
00:05:02 2 May Centers
00:05:11 3 Merger of Federated and May



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SUMMARY
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The May Department Stores Company was an American department store holding company, formerly headquartered in downtown St. Louis, Missouri. It was founded in Leadville, Colorado, by David May in 1877, moving to St. Louis in 1905. After many changes in the retail industry, the company merged with Federated Department Stores (now Macy's, Inc.) in 2005.
This company was only a holding company that bought, sold, and merged regional department stores, such as Foley's and L.S. Ayres. During most of its history, the operations of the various divisions were kept separate and had their own buyers and credit cards. The latter were not accepted at other May-owned stores. At times, two different May's stores operated in the same geographical market, but they were aimed at different customers. Most decisions for each of the regional store companies were made by management at the local headquarters and not by the holding company in St. Louis.
Some of the regional stores shared names that were similar to the parent company, such as Los Angeles-based May Company California. All it had in common with the parent was that these stores were headed by a different member of the May family as the president of their respective regional store chain. They were separate legal entities.