PROXY STATEMENT PURSUANT TO
SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934
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CARSON PIRIE SCOTT & CO.
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PROFFITT'S
Incorporated
Post Office Box 9388
Alcoa, TN 38801
(423) 983-7000
Fax: (423) 981-6325
PROFFITT'S, INC. GRANTED EARLY TERMINATION OF WAITING PERIOD
UNDER HART-SCOTT-RODINO ANTI-TRUST IMPROVEMENTS ACT
Contacts: Proffitt's: Julia Bentley
(423) 981-6243
Carson's: Ed Carroll (media)
(414) 347-5340
Darren Jackson (investors)
(414) 278-5787
Birmingham, Alabama and Milwaukee, Wisconsin (December 15,
1997) - Department store retailers Proffitt's, Inc. (NYSE:
PFT) ("Proffitt's") and Carson Pirie Scott & Co. (NYSE: CRP)
("Carson's") announced that early termination of the waiting
period under the Hart-Scott-Rodino Anti-Trust Improvements Act
(the "Act") has been granted in conjunction with the proposed
merger between the two companies. A filing was made under the
Act on November 17, 1997. Termination of the waiting period is
a condition to consummation of the merger.
The Registration Statement on Form S-4 related to the merger
was declared effective by the Securities and Exchange
Commission on December 10, 1997.
The merger is contingent upon shareholder approval and certain
other conditions. The meetings of the shareholders of both
Proffitt's and Carson's are scheduled for January 30, 1997.
The merger is expected to be consummated on January 31, 1998,
the fiscal year end of both Proffitt's and Carson's.
Proffitt's currently operates 177 stores in twenty-four states
under the store names of Proffitt's, McRae's, Younkers,
Parisian, and Herberger's. The Company's annual revenues
exceed $2.3 billion. Carson's operates 56 store locations in
four Midwestern states under the store names of Carson Pirie
Scott, Boston Store, and Bergner's. Carson's annual revenues
exceed $1.1 billion.
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO SELL SECURITIES NOR A
SOLICITATION OF AN OFFER TO BUY SECURITIES. AN OFFERING WILL
BE MADE ONLY BY MEANS OF A JOINT PROXY STATEMENT/PROSPECTUS.
A copy of the joint proxy statement/prospectus may be obtained
from the Secretary, Proffitt's Inc., 115 N. Calderwood Street,
Alcoa, Tennessee 37701.
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PROFFITT'S McRAE'S YOUNKERS PARISIAN HERBERGER'S
