Ethnicity Jewish Alma mater Ohio State University Name Fred Jr. | Citizenship United States Parent(s) Fred Lazarus, Sr. Education Ohio State University | |
Full Name Fred R. Lazarus, Jr. Born October 29, 1884 ( 1884-10-29 ) Columbus, Ohio, U.S. Occupation Store worker
businessman Known for Founder of Federated Department Stores Died May 27, 1973, Cincinnati, Ohio, United States Similar People Terry J Lundgren, Joseph Neubauer, Joyce M Roche, Allen I Questrom, Meyer Feldberg | ||
Fred R. Lazarus, Jr. (October 29, 1884 – May 27, 1973) was the Jewish-American founder of Federated Department Stores, which became Macy's, Inc.
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Early life
Fred, the grandson of Simon Lazarus, an immigrant retailer, second of four brothers, Simon Sr. (August 19, 1882 – December 21, 1947), Robert Sr. (September 20, 1890 – February 4, 1973), and Jeffrey Sr. (June 20, 1894 – 1975), grew up working in his family's store, F. & R. Lazarus. His father was Fred Lazarus, Sr. He briefly attended the Ohio State University, but dropped out at the age of 18 to work full-time in the store.
Businessman career
He began expanding the business soon afterward; under his leadership, federated eventually became the largest department store company in the United States. In 1928, the company purchased The John Shillito Company department store in Cincinnati. In the summer of 1929, months before the Wall Street Crash of 1929, F. & R. Lazarus merged with Abraham & Straus of Brooklyn, Filene's of Boston and Bloomingdale's of New York to become Federated Department Stores, of which "Mr. Fred" was the chairman. Lazarus himself exerted enormous financial, social, and political clout; he is credited with convincing President Franklin D. Roosevelt in 1939 to move Thanksgiving a week earlier, to the fourth Thursday in November instead of the last Thursday in November, in order to make the Christmas shopping season longer in those years on which November had 5 Thursdays.
The Lazarus family pioneered many shopping firsts such as the concept of "one low price" (in which no bargaining was required); theirs was also the first department store with escalators and the first air conditioned store in the country.
Interment
Fred Lazarus, Jr. is interred in the Lazarus Family Mausoleum in Greenlawn Cemetery, Columbus, Ohio.