Local News

• May 19, 2007 12:58 pm US/Central
• Digg | Facebook | E-mail

  Close WindowE-mail This Page

  Parent Company: State St. Macy's Is 'Doing Badly'

  Required fields are marked with an asterisk(*)

  ---

  • Recipient E-mail:* 
  • • Your Name:* 
    • Your E-mail:* 
  • Add a Message:
  •   Send me a copy of this e-mail.

  • Type the characters in this picture:* Click here to refresh with new letters

  ---

  The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

  Send E-mail

  | Print

Parent Company: State St. Macy's Is 'Doing Badly'

Chief Financial Officer Does Not Elaborate

 SLIDESHOW: See This Week's News In Photos

CHICAGO (AP) ― Federated Department Stores says its Macy's store on State Street is "doing badly."

The former Marshall Field's is one of about 400 department stores converted to the Macy's nameplate last year.

Federated's chief financial officer, Karen Hoguet, didn't provide specifics.

But speaking Friday at a press conference after the company's annual meeting, she said the Cincinnati-based retailer could do more to drive traffic to the State Street store.

Stepped-up advertising and sales events may help. This weekend, Macy's on State Street is advertising 50 percent discounts on clearance merchandise.

Also Friday, shareholders approved changing the retailer's name to Macy's Incorporated.

The change was expected and will be effective June 1.

(© 2007 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)