Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 4, 2008 10:45:04 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Macy's Vows to Revive Chicago Flagship

Posted Nov 19, 07 10:44 PM CST in US,  Business 

(Newser) – Macy's is changing course to revive Chicago's former Marshall Field's, a downtown fixture that was struggling when Macy's took over last year and has only done worse since, the Chicago Tribune reports. The solution? A $10-million, three-year plan to draw new shoppers into a 139-year-old institution they may have considered stuffy or overpriced.

Retailing veteran Frank Guzzetta, who oversees 62 Macy's stores, will keep traditions such as Marshall's famed holiday window displays. But he's creating submarkets within the store—everything from an FAO Schwarz to a wine bar—to attract young adults, tourists, and suburban moms. "It's worth the financial investment because we realize how much business we can do in this building," he said.

Source Chicago Tribune

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Staggering Slowdown Hits Retail Sales

    Nov 7, 08 6:04 AM CST
    Staggering Slowdown Hits Retail Sales Retail sales plummeted last month ahead of the holiday shopping season—which threatens to be the worst in decades, the New York Times reports. The downturn ran the gamut from upscale department stores to shops like the Gap. Neiman Marcus saw a 28% drop compared with the same month last year. Sales fell 20% at Abercrombie & Fitch, and Saks sales plunged 16%.
    More »

  • Retailers Expressing Gratitude

    Mar 19, 08 1:58 PM CDT
    Retailers Expressing Gratitude Today's slow economy has sparked more retailers to thank shoppers with bouquets and personal notes, Portfolio reports. Common for big spenders, such thank-yous are now mailed to regular shoppers too—like one reporter who bought two shirts and a jacket at Nordstrom. "Our salespeople build relationships with their customers by calling them and sending out thank-you notes," a Nordstrom rep said. More »

  • Wal-Mart Leads Feb. Retail Rally

    Mar 6, 08 10:47 AM CST
    Wal-Mart Leads Feb. Retail Rally Big retailers showed unexpected signs of life in February, beating weak sales predictions to inject some hope into the market. Wal-Mart led the way, posting a 2.6% same-store increase, beating its own predictions of flat-to-2% growth. Overall, same-store sales climbed 1.9%, with more than half of retailers beating predictions, the Wall Street Journal reports. More »

  • Retailers Await Last-Minute Gift From Shoppers

    Dec 24, 07 9:17 AM CST
    Retailers Await Last-Minute Gift From Shoppers Last-minute shoppers navigated long lines over the final pre-Christmas weekend, nudging retailers toward the modest growth in sales they’d expected. Deep discounts cut into profits, but retailers like Macy's and Kmart stayed open around the clock to accommodate shoppers, the Wall Street Journal reports. “The procrastinators finally got out there,” one consultant said. More »

Chicagoans walk by the former Marshall Field's building in this undated photo.   (Getty Images)
New canopies bearing the Macy's logo hang at their State Street store in the former Marshall Field's building in Chicago, in this Sept. 9, 2006 file photo. (AP Photo/Brian Kersey, file)   (Associated Press)
The former Marshall Field's building in Chicago is seen in this undated photo.   (Getty Images)
« Prev« Prev | Next »Next » Slideshow

Threads (
1
 of 2)

Tags

Chicago • retail sales • Macy's • department stores


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »