NEW YORK -- The May Department Stores Co. has agreed to purchase eight stores from McCurdy & Co.
The deal is expected to close Sept. 20.
Three of the units will be converted to Kaufmann's stores in Rochester, N.Y.
The price was not disclosed.
May Co., which is headquartered in St. Louis, said it will sell the other five McCurdy units. Its Kaufmann's division, based in Pittsburgh, operates 11 units in upstate New York, 19 in Ohio, nine in Pennsylvania and one in West Virginia.
McCurdy is reportedly retaining two downtown properties in Rochester, where it is based, but is expected to phase out the retail business, according to sources. McCurdy executives could not be reached Tuesday.