Macy's delays rug consolidation
May 17, 2004,
Federated Department Store's newly formed Macy's Home Store, based here, recently decided to wait an extra eight months to consolidate and structure its area rug division.
The area rug division's new consolidation deadline is Jan. 31. Initially, the job was to be done by the end of this month. But because of some leasing issues involving the Macy's nameplates being consolidated — Bon-Macy's, Burdines-Macy's, Goldsmith's-Macy's, Lazarus-Macy's, Macy's East, Macy's West and Rich's-Macy's — the company was unable to meet its target date. Also, the company is still exploring how it will shape up its area rug division.
"Not every (Macy's) nameplate runs its area rug business exactly the same. Some of the rug departments are leased and others are partially leased, so it wasn't as easy a transition for us as the rest of the home store," Taffet said. "It will take us longer to make a decision on how we plan to run (the area rug division)."
Related Content By Author
Live from NY Market: Target Talks Up Its New Chemical Initiative