Jan 28, 2006 1:42 pm US/Central
Possible Future For Marshall Field's Name
by Vince Gerasole
CHICAGO (CBS) ―
Don't count Marshall Field's out just yet.
New owner Macy's had promised to change the name of Chicago's world famous department store. But CBS 2's Vince Gerasole reports there are indications that Field's may be keeping its name after all.
Crain's Chicago Business reported Friday night that there might be a reprieve for the Marshall Field's name.
Brisk holiday sales at the flagship location in the Loop proved to the new owners, Federated Department Stores, that the store is both an icon and tourist destination. As a result, the name may suit it just fine.
"That's awesome," said shopper Chante Brown. "That's the best thing they could do."
Another customer, Bill Johnson of Winnetka, said, "It's kind of a Chicago institution, and I think it would help them do business here in Chicago" to keep the Marshall Field's name.
Marilyn Richards of Crystal Lake said, "I think when peopel come to Chicago, they want to go to Marshall Field's."
For 154 years, Chicago-centric brand Marshall Field's stood for quality shopping in spite of an array of different corporate owners in recent years.
Chicagoans were shocked and appalled when new owners Federated Department Stores announced last September that the name plate at all 61 Field's stores would be changed to its flagship name Macy's within a year.
Now, after strong holiday sales, Federated says it is looking for ways to keep Marshall Field's name alive. Analysts say that could mean branded in-store boutiques would remain or the name could stay attached to the historic State Street location.
Nearly a year ago, when Federated purchased Field's, executives did admit customer loyalty – read that as sales revenue – could impact the name game.
"Macy's is a fantastic national name and where it makes sense to keep other market names we will certainly do that," said Federated's Terry Lundgren in February 2005.
As the Macy's takeover continues, starting Sunday, Fields' credit cards will be accepted at all Macy's stores nationwide and vice versa. By summer, Macy's will begin replacing the green Field's cards with their own.
(© MMVI, CBS Broadcasting Inc. All Rights Reserved.)
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