from the month of July 2005 are listed below.
Daily News reports on Filene's closure
Written by Justin on July 29, 2005 at 8:07PM
announces store closings
Written by Justin on July 28, 2005 at 4:48PM
- Federated Department Stores
made their long awaited announcement regarding the future of their
stores pending merger with May Department Stores, and the result at the
Natick Mall is likely not what was expected.
- As it turns out, Federated will
shutter the Macy's store at Natick Mall, and will move all operations
into what is presently Filene's, under the Macy's banner. This is
likely because May owns the Filene's building, and therefore does not
have to pay rent. Additionally, Federated will have more rights
regarding future construction as they own part of the property.
However, Federated would be wise to put some money into the Filene's
anchor, as it has remained virtually unchanged on the exterior (and
parts of the interior) since the store remodeled and expanded in 1991,
compared to the Macy's, which was new construction when it opened in
1994 as Jordan Marsh. This will leave GGP with a beautiful, 3-floored
space that will be vacant, while new construction goes on next door. No
chance that Nordstrom would want to open a year early in the old mall?
Federated's press release is online at http://www.fds.com/ir/maymerger/template/pressrelease.asp?item_id=736315
- Federated made no announcement
about the Macy's Furniture Gallery in Framingham's Shoppers World, and
so it is possible that this store will remain open.
- In other malls in the region,
Macy's will shutter it's anchor stores at the Northshore Mall in
Peabody, Pheasant Lane Mall in Nashua (NH), South Shore Plaza in
Braintree, Warwick Mall in Warwick (RI) and Westgate Mall in Brockton.
Filene's stores will be shuttered at the Burlington Mall in Burlington,
Cape Cod Mall (home store only) in Hyannis, and the Maine Mall (both
home store and main store) in Portland (ME). No decision has been made
about the Downtown Crossing stores in Boston, although rumors focus on
Macy's operations moving to the legendary Filene's building, and then
turning the Macy's into a Target. The Boston Globe has a story
regarding this, it is online at http://www.boston.com/business/articles/2005/07/28/federated_says_330_may_stores_will_become_macys_bostoncom/.
- Additionally, Federated stated
in their press release that the profit-losing division of Lord and
Taylor will not become Macy's, but did not give any further details.
Other sites have reported that the chain will remain, which is a bit
suspicious; rumors are still that Lord and Taylor stores will become
either Bloomingdale's stores, which will remain untouched, or perhaps
becoming the Marshall Field's luxury concept that has been suspected.
- There's still an element of
mystery to the Marshall Field's bit as well. Federated is yet to
announce whether any of the Marshall Field's stores in the Midwest will
remain with the Field's name. One website, KeepItFields.org, was cited by
the Chicago Sun-Times, and is running a petition to keep the name
intact. (side note: If you're
interested in preserving a piece of Chicagoland retail history, be sure
to sign). That story is online at http://www.suntimes.com/output/business/cst-fin-fields27.html.
Federated was also the company that pulled the plug on Jordan Marsh in
1996, and similar atitudes are being expressed right now in Chicago as
they have a chance to save their store. Most who are opposing the
renaming of Marshall Field's quoted Macy's as being known only for
their parade, others have noted higher prices, and few seem to be in
support of the proposed change. Marshall Field's is to Chicago what
Jordan Marsh was to Boston; Chicago's Carson
Pirie Scott is more similar to Filene's.
- In total, 10 legendary
nameplates will be retired in Fall 2006, closing the book on the many
stores that, in effect, were all results of the American dream.
Filene's, Famous-Barr, Robinson-May, Hecht's, Kaufmann's,
Strawbridge's, Meier & Frank, Foley's, L.S. Ayre's, and The Jones
Store will no longer exist.
- That's all for now; stay with
Framingham/Natick Retail for updates as they happen on the
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