News Brief

Federated Replaces MacDonald As CMO

Federated Department Stores, soon to be known by the simpler name of Macy's, has named Peter Sachse CMO, a title he will assume in addition to his role as chairman and CEO of macys.com.

In an announcement, the company said he replaces Anne MacDonald, effective immediately. "We wish her the best in the future," the company said. "Going forward, our ultimate goal remains to grow sales by driving more customers into our stores and to macys.com while positioning Macy's as a destination for fashion and affordable luxury."

--Sarah Mahoney