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March 01, 2005
Marshall Field's SOLD to the highest bidder
Chicago is all aflutter at the news that Federated bought May Co. Natives worry that it could mean the end of Marshall Field's, that for some reason Federated would destroy the brand and slap "Macy's" on the State St flagship store.
Here's the thing - there are exactly two things I like about Marshall Field's. One, the makeup counters (which are just as good, if not better in a Macy's.) Two, the boutique style apothecary, where you can buy smelly lotion and feel fancy pants about it. Quite frankly, I think it's over priced and they never have a real sale.
Macy's, on the other hand, is my bread and butter. They've got the best in-house labels (Alfani and I.N.C. being my favorites) and the absolute best sales. On my recent trip to Vegas, my rents saved over $600 and didn't even spend $200. Granted, that doesn't count the lingerie I bought myself, but even that was buy two get one free. For some reason, Chicagoans think Macy's is very NYC, but I always associate it with L.A., since that's where I grew up and grew to love Macy's....I dunno. Maybe I'm making too big a deal out of this. But I tell you, there's been more ink about this than most business transactions.
"What's in store for Field's? Federated purchases Chicago retail icon, may change name," by Susan Chandler with contributions by Brendan McCarthy. This was the big headliner in the Trib this morning.
"Federated bets on malls: $11 billion purchase of May Department Stores - and Field's," by Becky Yerak in the Trib
"The Overview: No Longer the Queens of the Mall, Department Stores Try Makeovers," by Tracie Rozhon in the NYT
Posted by cj at March 1, 2005 12:42 PM
Comments
this really sucks. I hate macys and love marshall fields. If macys changes this, they will go out because no one will shop there. what is the point ????
Posted by: mike at December 24, 2005 10:00 AM
Actually, Federated Dept Stores (owners of Macy's) did a survey and decided that shoppers would continue shopping at Marshall Fields if the name was changed to Macy's. So, in 2006 they will discontinue the Marshall Field's name. They decided not to do that before the Xmas shopping season, though.
I've never understood Midwesterners profound love of Marshall Field's. Growing up in LA, I witnessed the demise of several stores (including my childhood favorite, Broadway). In the end, good style and good prices made me a die-hard Macy's fan. I've tried to shop at Field's and for the most part, it's just too damn expensive. Nothing ever really goes on sale. The only things I've purchased are makeup and a winter coat (and the lining is shredding even though it's a year old). I can't wait for Macy's brands to be available in Chicago - Alfani and I.N.C. are great; and really, you can't beat their clearance prices.
I think the bottom line is that while Midwesterners are attached to the idea of Field's, and NorthEasterners are attached to Filene's, department stores are struggling to remain relevant while more people shop at Target (and unfortunately Wal-Mart) and purchase high end stuff at boutiques. They also enjoy the disposable (and poor quality) trendy clothes of H&M and fewer and fewer people are seeking out department stores as their primary retail outlet. Consolidation is a formula that can work for a little while. After that, I think becoming a smaller business is the only real answer.
Posted by: C.J. at December 24, 2005 02:28 PM