RETAILING

Federated Says Store Bids Are Unacceptable: Federated Department Stores Inc. said it failed to receive any acceptable bid for seven stores it intended to sell in California. The Cincinnati-based retail operation said it received seven sealed bids for the California stores during the 30-day bidding process. Federated would not disclose the bidders or the bid amounts. Federated said it has notified California Atty. Gen. Daniel E. Lungren that none of the bids satisfied requirements for sale of the stores, as established in the agreement with Lungren. The stores are: the Broadway in Northridge, Coddingtown Macy’s in Santa Rosa, Sunvalley Emporium in Concord, Newpark Emporium in Newark, Hilltop Emporium in Richmond, Solano Emporium in Fairfield and the downtown Sacramento Weinstock’s. Federated has annual sales of more than $15 billion. The company operates more than 400 department stores and 150 specialty stores in 36 states.