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                                                                      Exhibit 23


                          INDEPENDENT AUDITORS' CONSENT

The Board of Directors and Shareholders
Federated Department Stores, Inc.:

         We consent to the incorporation by reference in the registration
statements (Nos. 33-88240 and 33-88242) on Form S-8 of Federated Department
Stores, Inc. of our report dated March 4, 1997, relating to the consolidated
balance sheets of Federated Department Stores, Inc. and subsidiaries as of
February 1, 1997 and February 3, 1996 and the related consolidated statements of
income and cash flows for the fifty-two week period ended February 1, 1997, the
fifty-three week period ended February 3, 1996 and the fifty-two week period
ended January 28, 1995, which report appears in the February 1, 1997 annual
report on Form 10-K of Federated Department Stores, Inc.

                                            KPMG PEAT MARWICK LLP

Cincinnati, Ohio
April 17, 1997