the Christmas Tree Lighting Ceremony at the State Street Store, Terry Lundgren (see right) CEO of Federated Department Stores and a speaker at a GNMAA Quarterly Membership Luncheon earlier this year, hosted a dinner in the store with Martha Stewart, who was in town to light the tree. Both were excellent hosts and met informally with our small group prior to dinner. It wasn't a "hard sell," but it is clear that Macy's is proceeding with their plan to achieve the economies of scale through large advertising and promotions purchases, large branded merchandise purchases, and the other benefits of changing multiple time –honored department store from locally branded names like Marshall Field's to Macy's. I agree with them that Marshall Field's was not what it used to be, the realities of present day marketing dictating a major change. I grew up in the Washington, DC, area and can remember shopping at Woodward & Lothrop many times. This brand was held in as high esteem in Washington as Field's was in Chicago. But "Woodie's," like Field's, was all things to all people and had market share stripped off by The Gap, Land's End, Old Navy, Eddie Bauer, and hundreds of other specialty brands. People in Washington thought the world was coming to an end when Woodward & Lothrop went out of business, shuttering their big iconic store downtown and the many suburban stores. The same would have happened to Field's had Federated not stepped in and made the major changes that it did, saving jobs, real estate values, and what's left of the store's great merchandise and services. Incidentally, yes, Martha is the same in real life as she is on the show. Looks the same! Acts the same! It was an enjoyable evening.
Monday, November 12, 2007
Macy's is on the Move
I am impressed with how hard Macy's is working to build their business in Chicago and on Michigan Avenue. The company clearly has stores in the City targeted for enhancements. As a prelude to
the Christmas Tree Lighting Ceremony at the State Street Store, Terry Lundgren (see right) CEO of Federated Department Stores and a speaker at a GNMAA Quarterly Membership Luncheon earlier this year, hosted a dinner in the store with Martha Stewart, who was in town to light the tree. Both were excellent hosts and met informally with our small group prior to dinner. It wasn't a "hard sell," but it is clear that Macy's is proceeding with their plan to achieve the economies of scale through large advertising and promotions purchases, large branded merchandise purchases, and the other benefits of changing multiple time –honored department store from locally branded names like Marshall Field's to Macy's. I agree with them that Marshall Field's was not what it used to be, the realities of present day marketing dictating a major change. I grew up in the Washington, DC, area and can remember shopping at Woodward & Lothrop many times. This brand was held in as high esteem in Washington as Field's was in Chicago. But "Woodie's," like Field's, was all things to all people and had market share stripped off by The Gap, Land's End, Old Navy, Eddie Bauer, and hundreds of other specialty brands. People in Washington thought the world was coming to an end when Woodward & Lothrop went out of business, shuttering their big iconic store downtown and the many suburban stores. The same would have happened to Field's had Federated not stepped in and made the major changes that it did, saving jobs, real estate values, and what's left of the store's great merchandise and services. Incidentally, yes, Martha is the same in real life as she is on the show. Looks the same! Acts the same! It was an enjoyable evening.
the Christmas Tree Lighting Ceremony at the State Street Store, Terry Lundgren (see right) CEO of Federated Department Stores and a speaker at a GNMAA Quarterly Membership Luncheon earlier this year, hosted a dinner in the store with Martha Stewart, who was in town to light the tree. Both were excellent hosts and met informally with our small group prior to dinner. It wasn't a "hard sell," but it is clear that Macy's is proceeding with their plan to achieve the economies of scale through large advertising and promotions purchases, large branded merchandise purchases, and the other benefits of changing multiple time –honored department store from locally branded names like Marshall Field's to Macy's. I agree with them that Marshall Field's was not what it used to be, the realities of present day marketing dictating a major change. I grew up in the Washington, DC, area and can remember shopping at Woodward & Lothrop many times. This brand was held in as high esteem in Washington as Field's was in Chicago. But "Woodie's," like Field's, was all things to all people and had market share stripped off by The Gap, Land's End, Old Navy, Eddie Bauer, and hundreds of other specialty brands. People in Washington thought the world was coming to an end when Woodward & Lothrop went out of business, shuttering their big iconic store downtown and the many suburban stores. The same would have happened to Field's had Federated not stepped in and made the major changes that it did, saving jobs, real estate values, and what's left of the store's great merchandise and services. Incidentally, yes, Martha is the same in real life as she is on the show. Looks the same! Acts the same! It was an enjoyable evening.
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