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May to use Field's as a platform.
ST. LOUIS -- The new steward of the Marshall Field's plans to leave the upscale retailer's merchandising team, market strategy and vendor structure largely intact. Further, the May Department Store Company wants to learn from Field's trend merchandising, extending it into other parts of its 438-store operation, especially in home.
"We intend to use Field's as a learning laboratory," said Gene Kahn, May chairman and CEO. The deal also gives May "a platform to work with vendors that Field's works with that May doesn't."
May announced last week that it will buy the 62-store department store chain from Target Corp. along with nine Mervyn's units in the Minneapolis/ St. Paul market. May will pay $3.24 billion in cash, $700 million more than Field's $2.6 billion in 2003 revenue. The transaction is expected to close during the second or third fiscal quarter. Ultimately, the acquisition is expected to add 20 percent to May's $13.3 billion in revenue.
May generally receives high marks for operating efficiencies, but takes knocks for store design and merchandising that…
- TARGET LOOKS TO SHED MERVYN'S, FIELD'S.(Target Corp.)
- Magazine article from: WWD Moin, David Young, Kristin Tucker, Ross March 11, 2004 700+ words
NEW YORK -- Target Corp. has finally put...s and Marshall Field's divisions...been reports that Target Corp., which also operates...overhauling the landmark Field's flagship on...executive officer of Target Corp., said in a statement...s and Marshall Field's over ...
- The Targeting of Field's; Target Corp. reaps a bigger return investing in its...
- Newspaper article from: Crain's Chicago Business Gallun, Alby April 15, 2002 700+ words
With parent Target Corp. treating it like an old suit, Marshall Field's may look better...would take But can Field's be fixed? Experts...distraction from Target Corp.'s core discounting...makeover would require Field's to reduce its...
- Targets mulls Mervyn's, Marshall Field's sale.(Target Corp.)
- News wire article from: DSN Retail Fax March 15, 2004 700+ words
Target Corp. announced Wednesday...Mervyn's and Marshall Field's divisions...alternatives for Marshall Field's, a 62-store...revenue, while Marshall Field's generated revenues...chairman and ceo of Target Corp., noted that the...
- May Dept. Stores buys two units in Ohio. (Retail briefs).(May Department Stores...
- Magazine article from: Home Textiles Today February 10, 2003 700+ words
May Department Stores has signed an agreement to acquire two Marshall Field's department store locations in Columbus, OH, from Target Corp. They will become Kaufman's department stores. The two locations are the 224,000...
- Federated interested in Target's Marshall Field's.(Federated Department Stores...
- News wire article from: DSN Retail Fax April 19, 2004 700+ words
...it is interested in acquiring Target Corp.'s Marshall Field's department store group...could be interested in Marshall Field's upscale brand name and strong...3.3 billion for Marshall Field's and suffer no material earnings...
- May Department Stores Co. will acquire the 62-store Marshall Field's department...
- Magazine article from: Chain Store Age July 1, 2004 700+ words
...acquire the 62-store Marshall Field's department store group from Target Corp. for $3.24 billion in cash...take over the $600 million Field's credit-card business...plans to keep the Marshall Field's marquee and its exclusive...
- Target counting down: sale of Field's, Mervyn's seen by fall.(Target Corp. said...
- Magazine article from: WWD Bowers, Katherine May 20, 2004 700+ words
...David Moin MINNEAPOLIS -- Target Corp. said it expects to complete the disposals of Marshall Field's and Mervyn's by September...rationale for the sale of Marshall Field's. Meanwhile, in New York...acquisition, will pick up Field's and that Mervyn's may...
- Ailing chains cloud Mag Mile recovery; Sales woes hobble Gap, Bauer and...
- Newspaper article from: Crain's Chicago Business Gallun, Alby March 4, 2002 700+ words
...particularly hometown icon Marshall Field's, have lost many of their...department stores such as Marshall Field's continue to be pummeled...specialty stores. Sales dropped Target Corp., Marshall Field's Minneapolis-based parent...
- Target Corp. launches Marshall Field's catalog.(Brief Article)(Product...
- Magazine article from: Home Textiles Today Lillo, Andrea August 12, 2002 700+ words
NEW YORK -- Marshall Field's extended its brand to...nationwide last week, as Target Corp. launched its newest catalog, Marshall Field's Direct. The 64-page...includes product from Marshall Field's. Inside the front cover...
- Target Corp. and Marshall Field's report sales increase.
- Newspaper article from: Finance and Commerce Daily Newspaper, MN July 11, 2003 700+ words
...Byline: F&C Staff Target Corp. said that its net retail...Target Stores and Marshall Field's and well below plan...chief executive officer of Target Corp. "Given the significance...stores and 62 Marshall Field's stores.
Source: HighBeam Research, May to use Field's as a platform.
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