LYCOS RETRIEVER
May Department Stores: Marshall Field
built 607 days ago
The May Department Stores Company operates department stores in the United States. These department stores are managed under the brand names, Famous-Barr, Filene’s, Foley’s, Hecht’s, Kaufmann;s, Lord & Taylor, L.S. Ayres, Marshall Field’s, Meier & Frank, Robinsons-May, Strawbridge’s, and The Jones Store. In addition, May operates a Bridal Group, which is a retailer of bridal-related apparel; After Hours Formalwear, a tuxedo sale and rental company in the nation; and Priscilla of Boston, an upscale bridal gown retailer. As of December 31, 2004, it operated 491 department stores, 239 David’s Bridal stores, 449 After Hours Formalwear stores, and 11 Priscilla of Boston stores in 46 states, the District of Columbia, and Puerto Rico. The company was founded in 1877 and is headquartered in St. Louis, Missouri.
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Target (TGT) persuaded upmarket retailer May Department Stores (MAY) to snatch up its Marshall Field's unit as well as nine Mervyn's stores for a cool $3.24 billion cash. That was higher than Wall Street was expecting, as Target's underperforming subsidiary drew competing bids from Filene's parent May as well as rival Federated (FD), which runs Macy's and Bloomingdale's. Target shares inched up 12 cents. May's share price slipped but a penny after the company said the purchase would boost earnings by fiscal 2005.
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At the end of 2004, May had 491 department stores under the names of Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, and The Jones Store, as well as 239 David's Bridal stores, 449 After Hours Formalwear stores, and 11 Priscilla of Boston stores. May currently operates in 46 states, the District of Columbia, and Puerto Rico.
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Ever since Cincinnati-based Federated Department Stores Inc. bought Marshall Field's latest parent, May Department Stores Co., it has considered renaming all Field stores as Macy's, in its efforts to create a national brand. Federated spokesman Jim Sluzewski said the retail giant, which finalized its purchase Tuesday, would decide by year's end whether to keep or abandon the Field name.
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May's runs 491 department stores under the names Filene's, Lord and Taylor, Hecht's, Kaufmann's, Marshall Field's and others. It ... owns the David Bridal's wedding chain. The company had sales of $14.4 billiion.
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Developments: Last year was a turning point for Federated, which bought rival chain May Department Stores in 2005. May had owned several regional department store names, including Hecht's, Marshall Field's and Filene's, along with Lord & Taylor. After the acquisition, Federated faced the daunting task of merging the two companies' headquarters and support offices throughout the country. It ... shut down dozens of stores in malls where it was competing against itself. Its biggest challenge may be in getting shoppers to adjust to the change. On Sept. 9, after months of remodeling and remerchandising, Federated converted the nameplates on all of its stores to Macy's or Bloomingdale's.
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