
As some of you may know, I've been following Macy's (NYSE:M) news this past year. I just came across this interesting interview with CEO Terry Lundgren over at CNNMoney.com. Here's a little snippet from the interview:
Q: What has been your biggest disappointment?
A: Our same-store sales have not been strong and that has been very disappointing. Our complete focus is on getting our sales to move in the right direction. Despite the economy, consumers will still spend. The goal is to get them to spend more with us versus our competitors. What we are trying to do is win market share.
Q: How do you do that?
A: By making Macy's known as the place to go for brands.
Hmm...what about making Macy's known for great customer service while shopping for your favorite brands? Wouldn't that be a better strategy? We all know that Macy's carries "brands". Heck, every department store carries brands.
It's as if Lundgren and the execs over at Macy's aren't even listening to the customers. Are they even paying attention to what Marshall Field's customers are saying?
Lundgren states that his biggest disappointment is weak sales and my biggest disappointment is that Macy's still doesn't get it.








just get it over with already. what are you crying for? marshall fields was dead long time ago. it went bankrupt even before macy's bought that place. here's a bit of history for you: (borrowed from Wikipedia)
In 1982, Marshall Field & Co. ceased to be a public company, being acquired by B.A.T. British-American Tobacco. As part of BATUS Retail Group, the American retailing arm of B.A.T., Field's and its Frederick & Nelson, Ivey's and The Crescent department stores and John Brueners home furnishings stores joined Gimbels, Saks Fifth Avenue and Kohl's. Field's continued to expand under BATUS, adding stores at Houston's Town & Country Mall in 1983, and at North Star Mall in San Antonio in 1986.
Only four years after buying Marshall Field's, BATUS scaled back its retail operations in 1986, selling Field's former subsidiaries Frederick & Nelson and The Crescent to a local investor group. Frederick & Nelson quickly deteriorated, and it became defunct in 1992. Its 1914 building, the one acquired by Field's in 1929 was eventually bought by Nordstrom and renovated and reopened as a replacement for their own Seattle parent store in 1998.
Gimbels was wound down at this time, and Field's used this as an opportunity to add five former Gimbels locations in Wisconsin: downtown Milwaukee, Northridge Mall and Southridge Mall in suburban Milwaukee, Hilldale Shopping Center in Madison and in downtown Appleton. The former Gimbels Northridge and Southridge locations were retained only 3 years before being sold to H.C. Prange Co. of Sheyboygan after poor performance in 1989.
The 1929 Evanston and Oak Park stores were closed as well in 1986, deemed out of date and too costly to operate. But, in 1987, a major restoration and renovation of the State Street flagship commenced.
BATUS initially retained Saks Fifth Avenue, Marshall Field's and Ivey's, but subsequently sold all its remaining U.S. retail assets in 1990 with Saks being acquired by Bahrain-based Investcorp, Ivey's being sold to Dillard's and Marshall Field's being sold to Dayton Hudson Corporation (now Target Corporation).
As part of Dayton Hudson, later renamed Target Corporation, Marshall Field's retained its nameplate, but its buying operations and Chicago headquarters merged with the Dayton's stores and the Hudson's stores under the Dayton Hudson Department Store Company, based in Minneapolis, Minnesota.
Under the leadership of president Dan Skoda, Dayton Hudson completed the magnificent $115 million restoration of the State Street store, including the creation of the south atrium and Daniel Burnham-designed "lost fountain" originally designed but never implemented back in 1902-1907. A strategy was set in motion to enhance Marshall Field's image by bringing in more designer brands, in-store specialty boutiques and a focus on quality, service and value. Resulting sales increases were encouraging, and the customer response showed that foundation for Marshall Field's future was being built. Additional store openings included one at Columbus City Center in Columbus, Ohio in 1989, a mall built on the site of the once Field's-owned The Union Co./Halle's. Also, in 1991, the former Gimbels in downtown Appleton was closed when new sister-division Dayton's opened a mall-based store there.
A new store at Northbrook Court in Northbrook, Illinois came in 1995 with extensive use of marble and hand-tufted carpeting, the first Chicago area store in 14 years. A similar Hudson's store, later converted to Marshall Field's, was also constructed in 1998-99 at the Rivertown Crossings Mall in suburban Grand Rapids, MI. 1996 saw the building of a new full-line store at The Mall at Tuttle Crossing in suburban Dublin, Ohio as well as two stand-alone furniture galleries near its Oak Brook and Schaumburg stores. The closure of the first "modern" Field's suburban branch at Park Forest Plaza came in 1996.
In 1997, Marshall Field's pulled out of the Texas market selling its four locations at The Galleria and Town & Country Mall in Houston, Galleria Dallas and San Antonio's North Star Mall. The Houston and Dallas stores were sold to Saks Fifth Avenue and the San Antonio location to Macy's. Field's also shuttered the former Gimbels flagship in Milwaukee after negotiations to rehabilitate it collapsed.
Dayton's and Hudson's stores were renamed Marshall Field's in early 2001, an event that was received with mixed emotion in Dayton's hometown of Minneapolis and Hudson's hometown of Detroit, expanding the Field's name to 64 stores in eight states. In 2003 Marshall Field's posted $106 million in profits and sold its two Columbus, Ohio, locations to May Department Stores Company, which reopened them as Kaufmann's.
In the first quarter of 2004 Field's sales revenues grew by 6.1%. On July 30, 2004, the Marshall Field division (along with property from nine shuttered Minneapolis-area locations from Mervyn's, another unit of Target Corporation) was sold to the May Department Stores Company. The then 62 Marshall Field's store division was valued for sale at US$3.25 billion.
Prior to its acquisition by May Department Stores Co., Marshall Field's had about 25,000 employees in 62 stores. It operated in the states of Illinois, Indiana, Michigan, Minnesota, North Dakota, Ohio, South Dakota, and Wisconsin. May Company closed a former Dayton's store at Kirkwood Mall in Bismarck, North Dakota and a Hudson's store at Glenbrook Square in Fort Wayne, Indiana.
Posted by: customer | December 16, 2007 7:20 PM | Permalink to Comment