Quarterly profits up 90%...yes, Lundgren and the rest of the FD staff have no idea what they are doing. LOL
Do us all a favor, those of you who do not believe in what FD is doing, sell and quit posting here. Thanks, bye bye!
I think you are pretty on target with you predictions. I do think most of Foleys and Hecht's doors will go to Atlanta. The only May office that will be kept is St Louis. All others will be bought by a current Macy's division. Fields and Lord and Taylor are the only mystery.
Look, every region of the U.S. is "different", and certainly, Texas would qualify as one of these different regions. I think the previous posts have been critical about the false hope that Texas employees seem to have about their fate, because of their enormous "difference". I just don't think there's a compelling enough argument to be made there.
I am all for employees "cheering their team" as you say. But, this ain't a cheerleading competition. If it makes them feel better, then great. But, I wouldn't be taking any of this to the bank (hell, my comments included).
I've heard the same rumors and I'm nowhere near Texas, nor do I really care what happens there. Houston's biggest assets are the port and distribution center which could be utilized without the corporate offices.
But you're wrong about that area of the country not being different. Every area has a regional flavor and would benefit in some small part from satellite offices. I wouldn't expect merchants in NY to have their fingers on the pulse of the Texas shopper any more than LA knowing what Atlanta wants.
The Texas posters may be in for a rude awakening if these whispers turn out to be bull
I agree, Chief. I think the Foley's folks have morphed into bumper sticker intellectuals and actually believe that "Don't Mess With Texas" nonsense. They need to acknowledge that they aren't any different than the rest of the USA and aren't viewed as "special" by the rest of the world.
<<...it would not be a great loss to the general public. In fact most of us no longer buy there or even walk thru. It's the era of the big box store and easy entry, shop, and drive way.>>>
I agree. I rarely ever shop Federated/Lazarus these days except to get a few cosmetics items unavailable elsewhere. As I've discussed before, this is not only the "big box" era, but this is also the era where people DEMAND VALUE. Department stores, with outrageous markups on the goods they sell, simply hold no interest to me whatsoever.
This has nothing to do with being the lowest in price, this has to do with giving your customers value. People understand that they have to pay more for better quality goods -- and they will. They just won't pay 4 times more!!!
If Federated doesn't get this, they will go the way of their other long gone competitors.
Ceo of FD met David's Bridal Group Ceo and now wants out of the Bridal business.Now there is a smart leader.But they will never get the asking price because of the Tux business and Priscila losses and bad investment and people decisions made by the Ceo.They continue to run the business into the ground when it should be comp. 7+ a year with profits way above where they are. They are struggling to meet fixed low plans and are still loaded with tremendous expense savings which is why they might hit plan profit this year even though sales are below plan.