EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
The Board of Directors and Shareholders
Federated Department Stores, Inc.:
 
    We consent to the incorporation by reference in the registration statement
on Form S-3 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. and to the reference to our firm under the heading "Experts" in the
registration statement.
 
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<S>                             <C>  <C>
                                             /s/ KPMG PEAT MARWICK LLP
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Cincinnati, Ohio
 
   
September 10, 1997