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September 20, 2005
Marshall Field's to become Macy's
Well, it looks like we'll see a namechange at Old Orchard soon (as well as downtown on State Street). Stupid Macy's.
Source: Chicago TribuneNo miracle on State Street: Marshall Field's to change to Macy's
Tribune staff reports
Published September 20, 2005, 11:01 AM CDTMarshall Field & Co., a name long venerated in the history of Chicago retailing, will disappear in the fall of 2006, to be replaced by Macy's.
All 62 Field's in Illinois and seven other states will be converted to Macy's, according to today's announcement by Federated Department Stores Inc., Field's new owner.
While Federated had "great respect for the legacy and traditions of Marshall Field's," the decision to drop the Field's name was made after Federated "carefully researched customer preferences and studied alternatives," Terry J. Lundgren, Federated's chairman, president and chief executive, said in a news release.
"While the store's name will change, much of what customers love will stay the same, including Marshall Field's traditions and its outstanding record of community and charitable giving," Lundgren said.
"From a shopping standpoint, customers will have the best of both worlds in major markets like Chicago, Minneapolis and Detroit," Lundgren said.
"They will continue to benefit from regional buying that remains attuned to local preferences and lifestyles plus enjoy the distinctive merchandise and shopping experience that's part of the Macy's brand," Lundgren said.
"As part of this name change process, we will do everything we can to honor the Marshall Field's heritage, particularly in its Chicago birthplace."
The stores will be operated under a Minneapolis-based division, Macy's North, the Cincinnati-based Federated said.
Federated, parent of Macy's and Bloomingdale's, doubled its size Aug. 30 by completing its $11 billion acquisition of Field's owner, May Department Stores Co.
The acquisition gave rise to immediate misgivings among Chicagoans familiar with Federated's history of changing the names of regional department store chains it acquired to Macy's.
Most other May chains, including Famous-Barr, with seven Illinois stores, are to be renamed Macy's by fall 2006. One exception is Lord & Taylor, which Federated has ruled out changing.
The deal between Federated and May marked the second time in less than two years that Field's has changed hands. In July 2004, May bought Field's from Minneapolis-based Target Corp., which dumped its department store holdings to focus on its more vigorous discount chain.
The Federated-May deal created a $28 billion retailer with about 950 department stores.
Despite changing the name to Macy's, Field's may remain a fixture on State Street for some time to come. Two days after Federated closed its acquisition of May, the Commission on Chicago Landmarks formally recommended that the City Council bestow landmark status to the retailer's flagship store at State and Washington Streets.
If approved by the City Council, the landmark designation would give the city legal power to restrict building changes, including tinkering with the large nameplates on its exterior.
Preservationists and politicians have said changing the State Street store from Field's to Macy's would strip away a piece of the city's identity. Many also hoped a landmark designation would preserve the name of the State Street shopping icon.
"It's like changing the name of the Eiffel Tower, honestly," Preservation Chicago president Jonathan Fine said earlier this month. "I don't think Chicagoans will ever accept it as a Macy's. To us, that's somebody who sponsors a parade in New York."
Posted by Tannerman at September 20, 2005 12:06 PM | Categories: Anchors | News | Old Orchard | Other Malls