Author Topic: Macy's Department Stores Discussion Thread (Read 30706 times)

CMH_Downtown · « **on:** July 28, 2005, 03:46:33 AM »

Retail shakeout: Federated to close two Kaufmann's, one Macy's
Tony Goins
Business First

...

Federated said Thursday it plans to close Kaufmann's stores at Polaris Fashion Place and the Mall at Tuttle Crossing, and will close a Macy's at Eastland Mall. Closings will begin in 2006, according to Federated.

May is building a new Kaufmann's at Eastland, which is slated to open in the fall.

...

The Eastland Kaufmann's will become a Macy's store, as will another Kaufmann's at the City Center mall.

...

http://columbus.bizjournals.com/columbus/stories/2005/07/25/daily28.html

The_Cincinnati_Kid · « **Reply #1 on:** September 20, 2005, 05:20:34 AM »

Looks like Cincinnati will largely be spared, thank God.

Federated plans to cut about 6,200 jobs

CINCINNATI (AP) — Federated Department Stores (FD) said Tuesday it plans to cut about 6,200 jobs beginning in 2006, including 1,700 in St. Louis at the corporate offices of May Department Stores, which Federated bought this year.
Federated also said it will convert all 62 of its newly acquired Marshall Field's stores to the Macy's nameplate by next fall.

About 4,500 positions will be eliminated beginning in March as Federated phases out May's divisional operations in Boston; Houston; Arlington, Va.; and Los Angeles.

...

http://www.usatoday.com/money/industries/retail/2005-09-20-federated_x.htm

metrocity · « **Reply #2 on:** September 20, 2005, 09:08:37 AM »

Chicagoans are not happy about this at all...poll fro today's Tribune

Quote

Will a name change at Field's make a difference to you?

90.2%
Yes (12107 responses)

9.8%
No (1313 responses)

13420 total responses
(Poll results not scientific)

If so, would it make you more or less likely to shop there?

3.4%
More (425 responses)

96.6%
Less (12010 responses)

12435 total responses
(Poll results not scientific)

(New question:) When did you last shop at Field's?

31.0%
Within the last week (2074 responses)

39.4%
Within the last month (2636 responses)

21.5%
Within the last year (1435 responses)

8.0%
More than a year ago (537 responses)

6682 total responses
(Poll results not scientific)

dfly · « **Reply #3 on:** September 20, 2005, 02:12:03 PM »

Why in the world would they not keep the Marshall Field's name in Chicago? Obviously there is much loyalty to the brand in Chicago. Christmas at the State Street Macy's...hmmm...somehow just not the same, especially to the Chicagoan I know. Federated has managed to remove any and all local ties to department stores...even the venerable Marshall Field. I certainly wish Federated well because it is an Ohio company, but they have just created another national chain without any identity, individuality, or uniqueness--granted, much of that has already been lost but is now completely lost.

columbusguy20 · « **Reply #4 on:** September 20, 2005, 02:52:03 PM »

that news really iritates me. first federated gets rid of all the local stores(lazrus, burdines, richs, bon marche) then they buy out the may company stores, and then they decide not to keep the marshall fields name! whats next, getting rid of the lord&taylor name(who i use to work for)? they should keep the marshall fields name in the chicago area(at least at the state street store). i suppose bloomingdales will not exist within the next 10 years and they may buy out neimans, saks, barneys, nordstroms, etc...

The_Cincinnati_Kid · « **Reply #5 on:** September 20, 2005, 11:19:10 PM »

Federated plans big changes
6,200 jobs in peril; Marshall Field's to be Macy's

By John Eckberg
Enquirer staff writer

Federated Department Stores Inc. said Tuesday it would cut up to 6,200 jobs, eliminate the venerable Marshall Field's nameplate and 10 other brands and find a buyer for May's bridal shop division as part of its acquisition of St. Louis-based May Department Store Co.

Ronald W. Tysoe, Federated vice chairman finance/real estate, said the company did not know how many jobs would be cut as a result of Federated's $17 billion purchase of May Co., concluded in late August, but predicted its downtown Cincinnati headquarters would grow.

...

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050921/BIZ01/509210333/1076/BIZ

The_Cincinnati_Kid · « **Reply #6 on:** October 25, 2005, 11:49:49 PM »

Federated to add 300 jobs locally
Consolidation of credit divisions to benefit Deerfield Twp.

By John Eckberg
Enquirer staff writer

Federated Department Stores Inc., plans to consolidate a former May Department Stores Co. credit division into Federated's own credit support division in Warren County and bring up to 300 new jobs to Deerfield Township by spring.

The move will shutter May credit support divisions in Lorain and Parma, Ohio, as well as Houston.

It will eliminate 800 to 900 jobs and help bring an estimated $175 million in savings next year with $450 million in savings projected for 2007.

...

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20051026/BIZ01/510260313/1002/BIZ

buildingcincinnati · « **Reply #7 on:** October 27, 2005, 09:13:36 AM »

From Columbus Business First, 10/26/05:

Federated opens Kaufmann's, plans Macy's closing

Federated Department Stores Inc. held a grand opening for the Kaufmann's store at Eastland Mall Oct. 26, a day after it announced it will hold going-out-of-business sales at its Macy's store at Eastland starting Jan. 29.

Wednesday's grand opening also showcased a number of renovations at Eastland, said mall owner Glimcher Realty Trust. Columbus-based Glimcher (NYSE:GRT) said it updated mall entrances, installed outward facing retail space and plans to install a new children's play area at Eastland in December.

...

© 2005 American City Business Journals Inc.

http://www.bizjournals.com/columbus/stories/2005/10/24/daily23.html?from_rss=1

buildingcincinnati · « **Reply #8 on:** October 27, 2005, 01:07:28 PM »

But cuts for Lorain and Parma. From the 10/26/05 PD:

Federated to eliminate 800 jobs in NE Ohio
Wednesday, October 26, 2005
Janet H. Cho
Plain Dealer Reporter

Federated Department Stores Inc. announced Tuesday it will eliminate nearly 800 jobs at credit facilities in Lorain and Parma as part of its merger with the May Department Stores Co.

Cincinnati-based Federated said it will begin closing the former May Co. credit operations in Lorain and Parma starting in spring 2006, while expanding its financial, administrative and credit services center in Mason, Ohio, near Cincinnati.

...

To reach this Plain Dealer reporter:
jcho@plaind.com, 216-999-5069[/i]

http://www.cleveland.com/business/plaindealer/index.ssf?/base/business/11303195017980.xml&coll=2

UncleRando · « **Reply #9 on:** October 28, 2005, 05:39:04 AM »

Corporations are always going around screwing things up.....down with corporate empires

moonloop · « **Reply #10 on:** January 12, 2006, 10:20:04 AM »

Sweet!

Federated bringing 200 jobs downtown
May merger pays off for Cincinnati

By John Eckberg
Enquirer staff writer

About new 200 jobs are headed to the Cincinnati headquarters of Federated Department Stores Inc. on West Seventh Street thanks to its $17 billion purchase of May Department Store Co.

Thomas G. Cody, vice chair of Federated, told members of the Cincinnati Rotary Club Thursday that Cincinnati would soon reap the benefits of a stronger Federated with more than 900 stores coming under the Macy’s banner.

...

E-mail jeckberg@enquirer.com

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20060112/BIZ01/301120014

ColDayMan · « **Reply #11 on:** January 12, 2006, 10:26:07 AM »

--Plans are afoot to retool the downtown Fountain Place Macy’s – dumping the junior’s section is one change – with new signs, wider aisles and a greater assortment that appeals to adults will occur in time for the reopening of Fountain Square this summer.

Well that atleast is a good thing...

preservationrestoration · « **Reply #12 on:** January 12, 2006, 04:36:25 PM »

Also announced today....they are putting Lord and Taylor on the market.

Personally, I can't wait for Macy's to arrive here in metro Detroit. The Marshall-Fields (former Hudsons) stores here aren't all that great. Certainly not like MF in Chicago.

I'm surprised Cincy doesn't have a Bloomingdales yet.

Cincinnatus · « **Reply #13 on:** January 12, 2006, 05:33:39 PM »

Yes! This article made my day!

... now I am going to go post this on SSP!

cincyimages · « **Reply #14 on:** January 18, 2006, 05:07:22 AM »

Glad to hear that downtown will benefit from this merger but down the street we might see the negative effect of a merger of Cinergy & Duke. It is uncertain if this will just be a wash in the end.

metrocity · « **Reply #15 on:** January 19, 2006, 03:37:53 PM »

Quote

Personally, I can't wait for Macy's to arrive here in metro Detroit. The Marshall-Fields (former Hudsons) stores here aren't all that great. Certainly not like MF in Chicago.

Don't get too excited...my sister in Indy says that Macy's has shopping carts in their stores there.

buildingcincinnati · « **Reply #16 on:** February 08, 2006, 04:57:18 PM »

This appeared in the 2/3/06 Business First of Columbus:

Federated outlines store shift plans for region

More than 100 people will lose their jobs in early April, when Federated Department Stores Inc. eliminates its Kaufmann's operation from Eastland Mall.

Federated hopes to find jobs for most of those 108 workers at the company's other Central Ohio stores, said Jim Sluzewski, a company spokesman in Cincinnati.

...

© 2006 American City Business Journals Inc.

http://www.bizjournals.com/columbus/stories/2006/01/30/daily28.html?from_rss=1

Cincinnatus · « **Reply #17 on:** February 09, 2006, 01:27:56 AM »

That's horrible. Moving jobs from one place to another is one thing, but losing jobs is another...

noozer · « **Reply #18 on:** February 13, 2006, 05:59:55 AM »

http://columbus.bizjournals.com/columbus/stories/2006/02/13/daily5.html

Business First of Columbus - 1:10 PM EST Monday
Federated readying millions for May stores overhaul
Lisa Biank Fasig
For Business First

Federated Department Stores Inc., in a bid to improve colorless sales at the roughly 375 locations it acquired from May Department Stores Co., will spend well north of $100 million to shift inventory, expand private labels and renovate those stores.

The strategy, detailed in a recent conference call with analysts, will involve the rollout of an estimated $2 billion worth of Macy's private-label products to the stores, as well as the introduction of some May private-label brands to Macy's stores.

...

noozer · « **Reply #19 on:** February 17, 2006, 02:02:42 AM »

http://columbus.bizjournals.com/columbus/stories/2006/02/13/daily27.html

Business First of Columbus - 9:22 AM EST Friday
Macy's parent selling 15 store sites

Shopping center owner Westfield Group Ltd. will acquire the Macy's store that Federated Department Stores Inc. plans to shutter at the Richland Mall in Mansfield.

The 195,000-square-foot store is among 15 that Cincinnati-based Federated (NYSE:FD) plans to sell to Westfield, an Australian owner of retail centers around the world.

...

UncleRando · « **Reply #20 on:** March 29, 2006, 11:09:48 AM »

Federated seeks stock split
3/28/2006, 8:03 p.m. ET
The Associated Press

CINCINNATI (AP) — Federated Department Stores Inc. intends to split the company's common stock on a two-for-one basis if shareholders approve the move, the company said Tuesday.

The board also declared a 2 percent increase in the quarterly cash dividend payable July 3, 2006, to shareholders of record at the close of business June 16, 2006.

...

UncleRando · « **Reply #21 on:** March 29, 2006, 11:11:32 AM »

This company seems to be doing well. I keep hearing positive reports about earnings and jobs. They also have been good to Cincy (at least it seems that way). I know that some other cities are losing out on Federated's business moves, but as for Ohio (and specifically Cincinnati) they are doing well in my eyes.

noozer · « **Reply #22 on:** May 02, 2006, 03:28:52 AM »

http://columbus.bizjournals.com/columbus/stories/2006/05/01/daily10.html

Federated selling overlapping stores in three states
Business First of Columbus - 11:21 AM EDT Tuesday

Federated Department Stores Inc. is selling seven duplicate department stores in three states to an Indianapolis mall developer.

Simon Property Group will buy stores in Burlington and Braintree, Mass.; Nashua, N.H.; and Indianapolis, Mishawaka, Evansville and Greenwood, Ind.

All the stores are in malls or shopping centers owned by Simon, and all overlap with other Federated stores as a result of the company's August acquisition of May Department Stores Co.

...

UncleRando · « **Reply #23 on:** May 02, 2006, 06:56:28 AM »

Indianapolis group purchases former Federated stores
Cincinnati Business Courier - 11:43 AM EDT Tuesday

Simon Property Group said Monday that it will buy seven buildings formerly operated by Federated Department Stores Inc., and convert them to other uses.

Terms of the deal were not disclosed. Closing is expected in July.

The group will purchase stores in Burlington and Braintree, Mass.; Nashua, N.H.; Mishawaka, Evansville and Greenwood, Ind.; and Indianapolis. All of the stores are located in malls or shopping centers owned by Simon.

...

buildingcincinnati · « **Reply #24 on:** May 05, 2006, 12:12:30 PM »

From the 5/5/06 Warren Tribune Chronicle:

Federated to slash jobs
By RAYMOND L. SMITH Tribune Chronicle

WARREN — Approximately 100 employees at the Kaufmann’s distribution center on Bailey Road will lose their jobs by the end of spring 2007.

They will be given an opportunity to voluntarily leave their jobs and receive a separation buyout from the Federated Department stores, which is the new owner of Kaufmann’s. The distribution center currently employs about 230 people.

The jobs will be eliminated in phases through the remainder of this year and the first part of 2007.

...

rsmith@tribune-chronicle.com

http://www.tribune-chronicle.com/business/articles.asp?articleID=3456

UncleRando · « **Reply #25 on:** May 16, 2006, 05:36:36 AM »

IRS settlement to boost Federated's profits
Cincinnati Business Courier - 11:37 AM EDT Tuesday

Federated Department Stores said it will increase its second-quarter guidance by 33 cents a share, thanks to a settlement with the Internal Revenue Service.

The settlement involves losses incurred on tax returns in 2000-02, after Federated sold its Fingerhut catalog and direct mail division. It will add $128 million in cash to the company's coffers during the quarter. That will result in a tax benefit of about $80 million, with about $20 million in interest during the second quarter, and an additional 33 cents per diluted share.

...

buildingcincinnati · « **Reply #26 on:** June 06, 2006, 10:18:10 AM »

From the 6/6/06 Dispatch:

Name change has hurt Macy’s
Decision to drop ‘Lazarus’ not a hit here
Tuesday, June 06, 2006
Jeffrey Sheban
THE COLUMBUS DISPATCH

Macy’s is not as big a draw in central Ohio since the chain’s name was changed from Lazarus last year, market research indicates.

In 2005, customer visits to Macy’s in the Columbus market declined 4.5 percentage points, or by more than 50,000 people, according to the independent marketresearch firm Scarborough Research.

The drop was steeper than Lazarus experienced during the previous five years combined.

Parent company Federated Department Stores changed the Lazarus name on six department stores and two furniture stores in central Ohio in March 2005, ending a 154-year run for a brand that had become synonymous with shopping in Columbus. The first Lazarus store opened in 1851 Downtown and grew into a regional chain of more than 40 stores in Ohio and four other states.

...

jsheban@dispatch.com

http://www.dispatch.com/business-story.php?story=dispatch/2006/06/06/20060606-F1-01.html

David · « **Reply #27 on:** June 07, 2006, 07:43:05 AM »

I don't think the name change is the cause of their demise. They were already going down-hill, hence them changing to a more prestigious sounding name as a quick fix to begin with. They should do customer surveys and get to the root of the problem that way.

xumelanie · « **Reply #28 on:** June 07, 2006, 08:25:36 AM »

I notice little difference between Lazarus and Macy's here, especially since they are both owned by the same company.

columbusguy20 · « **Reply #29 on:** June 07, 2006, 09:30:22 AM »

Personally, I think the reason sales have gone down is because Macys/Lazarus does not carry as much nice merchandise as it once did. My parents told me that Lazarus use to sell Armani, Donna Karan, and a few other high end brands. It seems like once Federated got a better grip, they took those away.
I wonder how people in Chicago will react once they take away the Marshall Fields name!

Cincy1 · « **Reply #30 on:** June 07, 2006, 11:02:45 AM »

I also think Chicago is going to present a problem. People were pissed about the change. I think it will be like Dillard's changing all the McAlpin's over in Cincinnati a few years ago - they did horribly.

xumelanie · « **Reply #31 on:** June 07, 2006, 11:04:42 AM »

^ I think the brands they carry will vary by location. FOr example, Kenwood Mall near Cincinnati tends to have more of the high end brand names because they are pretty close to some expensive neighborhoods. Other Macy's stores in the area tend to fewer high end brands.

xumelanie · « **Reply #32 on:** June 07, 2006, 11:05:15 AM »

Quote from: Cincy1 on June 07, 2006, 11:02:45 AM

I also think Chicago is going to present a problem. People were pissed about the change. I think it will be like Dillard's changing all the McAlpin's over in Cincinnati a few years ago - they did horribly.

Dillard's is nothing like McAlpin's.

David · « **Reply #33 on:** June 07, 2006, 11:09:01 AM »

WHAT CHANGE!? LOL. It's the same store with a new sign out front. When I go shopping, I walk into a store and buy something because I like it and the price is right, not because I'm intimidated by the name "Macys". My guess is they don't do markdowns as much as they did before (the only time I ever buy anything at lazarus is when it's on sale) or maybe lazarus can't keep up with the latest hot designer brands, or maybe their customer service is lacking or maybe they don't sell enough charge cards, or maybe other stores are sprouting up that offer advantages over them. For a market research firm to conclude that people are just intimidated by the branding spells laziness to me.

UncleRando · « **Reply #34 on:** June 08, 2006, 03:15:31 AM »

I like the change of names from Lazarus to Macy*s. I find it more attractive to say....doesnt it sound better to say downtown Cincy has a Sak's, Tiffany's, Brooks Brothers, and Macy*s....pretty elite if you ask me

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Author Topic: Macy's Department Stores Discussion Thread (Read 30706 times)