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                          INDEPENDENT AUDITORS' CONSENT


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


         We consent to the incorporation by reference in the registration
statement No. 333-34321 on Form S-3 and the registration statement No. 333-44373
on Form S-8 of Federated Department Stores, Inc. of our report dated March 3,
1998, relating to the consolidated balance sheets of Federated Department
Stores, Inc. and subsidiaries as of January 31, 1998 and February 1, 1997 and
the related consolidated statements of income, changes in shareholders' equity
and cash flows for the fifty-two week period ended January 31, 1998, the
fifty-two week period ended February 1, 1997 and the fifty-three week period
ended February 3, 1996, which report appears in the January 31, 1998 annual
report on Form 10-K of Federated Department Stores, Inc.


                                                         KPMG Peat Marwick LLP


Cincinnati, Ohio
April 16, 1998