Marshall Field's was the greatest department store in America in the entire history of retailing. The clip below will show you how beloved this fine institution was and how much it was loved by hundreds of millions across America.
Sharpston has certainly had some issues over the years. However, the Sharpstown location was one of Foley's oldest locations in Houston. When First Colony opened, Foley's kept Sharpstown open because it maintained a solid business. On the other hand, Macy's doesn't know how to run a solid business. Say what you want about Sharpstown, but it is a very accessible and convenient location.
OMG, seriously, Foley's was NOT a great shopping destination. Sharpstown was nasty, and any store that goes by it's nickname "gunspoint" instead of it's real name "greenspoint" should have been closed long ago. I think they need to close several more stores, at least the ones under 20 million.
Oh, sure ... Foley's and Filene's (using the parlance of the MF whiners) became iconic names during the May regime beginning in 1988. Filene's couldn't even get a merger with one of their own divisions (Kaufmann's) right and you expect me to believe they were raging successes under May? Right.
Elementary logic ..... if the "headquarters nameplate" stores represent the natural evolution of Federated and continue to be successful, then there is nothing wrong with the model. And, yes, I was in one of those ex-Lazarus stores within the last two hours and it was full of shoppers on the Sunday afternoon AFTER Easter.
Lazarus, Rich's, Goldsmith's, Shillito's, Filene's, Rike's, Sanger-Harris and Foley's were all essentially the same stores, run in practically the same way. Lazarus even gave "Red Apples" out to their employees. If the stores under Federated continue to be successful (and they are) then so will the ones they were forced to sell off.
Well, clearly you are out of the loop, as you are quoting 06 numbers. Look at 07, go back an look at 05, and you will see where the company is headed. Then, add future store closings, and I do believe pre-merger volumes will be hit.
As to another reply to my message, Foleys and Filenes did not have their best results under Federated. They had their best performance under May DS. Again, another poster out of the loop, wanting to call anyone that does not drink the Macy's kool aid a whiner.
Typical arrogance of the Macy's bozos.
You whiners just don't understand very elementary logic, do you?
If you follow the evolution of Federated's divisions, they would be, for example ....
Lazarus continues to be successful as it evolved.
Foley's and Filene's most successful years were they years they were run by the Lazarus family under Federated. If not for Campeau, they would have evolved the same way.
If Lazarus and Rich's stores continue to be successful, then there is absolutely no reason that ex-Foley's won't be either.
Of course I shouldnt expect you to understand basic logic.
Interesting that you think the other cities you mention (Houston for instance) don't have an issue with Macy's. When I look at the volume that the Foley's division dropped by store once Macy's took over, and are continuing to be drained, I think the customer is voting with their pocketbooks that they are not happy.
Next, get involved in a conversation with any local folks in Houston, where Foley's was an institution, and you will find that no one is happy that Macy's took away the Foley's name or format.
An interesting note is that the recent closings are just the first wave, again highlighting that the customers are not happy with the name change, and choosing not to shop at the levels they had in the past. In Houston, not only has the Sharpstown store closed (which was long overdue), but Pasadena, San Jacinto, Greenspoint are all on the radar to be closed.
The most comical part of the whole merger is that at the rate they are going, they will have the company back to the pre-merger size in just a few years.
I do like bloomingdale's because they have very practical high fashion suits that are not to expensive but good quality fabric. Bergdorf's has become to expensive for any one but the real high end shopper. Does it really matter where you purchase if the price is good and it is a quality fabric. I have seen very poor quality in all the stores just because you go to the very high end stores doesn't mean you are getting quality, stitching can be off and etc. Certain lines are consistant. I find most of the stores you mentioned have great men's clothing but very little women's. It all tends to look alike! To pay $2000 for a women's suit is to much for myself. I would rather save and buy beautiful art or better real estate something you can hold on too. Let's face it if your ugly it doesn't matter if it's a $2000 suit or a $600 suit. The young super models don't care what suit a man wears if he is loaded they just want to know he has lots of money in the bank! and he knows it, that's why he can get her!Only certain people will care if something comes from those stores and that is who they are catering to. Bloomingdale's can cater to a lot more people and give them a nice suit or lingerie for the money!
I agree... I see nothing special about Bloomingdale's even though they claim they're "Like No Other Store in the World." Wow that's puffery if I ever saw it!
Neiman Marcus could get away with making such a grandiose claim but Bloomingdale's? Come 'on. Saks, NM, Bergdorf Goodman, Harrod's, Barney's, the late I. Magnin, etc. could all out-do Bloomingdale's any day of the week.
“Bloomingdales requires a very specific demographic in order to support it's average retail - just like Sax or Niemen Marcus - you don't just place a Bloomingdales anywhere - one of the reasons why States Street never became a Bloomingdales is due to the demographics of the area - it was determined that the area couldn't support the average retail of the store - not a slap in the face of the people of Chicago, just the way the research shook out."
Demographics change and the time has come for Macy’s to clean up and tighten the business. I think you guys are going through the same anxiety as the MF people went through when MF went by the wayside. The thought of losing a nice department store to a midlevel demographic sounds repugnant to you.
The management of Macy’s has embraced the ideal of competing with JCP, DDS, TAT and other midlevel retailers. This is not a bad thing for the company because the company is very well structured to take on this challenge.
Bloomingdales can do a better job at the affluent level of the demographic were Macy’s has some of those nice stores such as mtryswimmer neighborhood. (maybe you’ll get some better watches just kidding) This can present opportunities for Macy’s midlevel stores and at the same time not drag down the company image. This also will give opportunity for Bloomingdales to expand with the already approved clientele. Bloomingdales could possibly just give Niemen Marcus a run for their money.
Compete with your level of competition don’t try and take on someone out of your league is the approach and attitude the Macy’s management is taken in my opinion.
Oh, mtryswimmer TAG Heuer is a fine watch I just prefer Patek Philippe, and wouldn’t you prefer to go into a store that is like the watch you are buying.
Jt0768, there is a saying about clusters and it is what Macy’s is finding itself in now and that is called a cluster F@#k. I think this move in demo/culture will make good business and define the direction the company is headed. This is a much needed realignment of the way Macy’s / Bloomingdales is doing business.