 
Fastcarsfreedom
Member
Username: Fastcarsfreedom
Post Number: 89
Registered: 11-2005
| | Posted on Tuesday, December 05, 2006 - 1:11 pm: |    |
If I missed a related thread at the time the announcement was made (October), please forgive me. I think it's noteworthy that Bon-Ton Stores, Inc. will become a local player on the retail scene, since it has picked up the Parisian locations In Livonia and Rochester, as well as the location under construction at Partridge Creek--Saks sold Parisian to Belk Stores--and Belk, a southern operator, flipped the midwest locations (including Michigan) to Bon-Ton. Bon-Ton will also now be on the fringes of the Metro area--operating the Elder-Beerman chain to the south and west (Including Monroe and Jackson) and the Younkers location in Port Huron. Bon-Ton is formidable player in the retail scene--with close to 300 full-line department stores. Any thoughts on whether Bon-Ton will increase their presence locally (seems to me there's a certain vacant anchor spot at Fairlane Town Center). Bon Ton hasn't been clear on what it will do with the Parisian stores nameplate-wise--it has expressed an interest in retaining the name--the legacy of which stretches back to Birmingham, Alabama. |
Fastcarsfreedom
Member
Username: Fastcarsfreedom
Post Number: 90
Registered: 11-2005
| | Posted on Saturday, December 09, 2006 - 12:39 pm: | |
Anyone hear any buzz on the vacant L&T spot at Fairlane? |
Aschar76
Member
Username: Aschar76
Post Number: 36
Registered: 11-2006
| | Posted on Saturday, December 09, 2006 - 1:01 pm: | |
What a great site for Dearborns frist Walmat. |
Jjaba
Member
Username: Jjaba
Post Number: 4559
Registered: 11-2003
| | Posted on Saturday, December 09, 2006 - 1:07 pm: | |
Actually, Siad's Variety Store is going in there.
You need a good Arab trader to make a go of it. 33% of Dearborn residents are Arab-Americans now.
jjaba. |
Fastcarsfreedom
Member
Username: Fastcarsfreedom
Post Number: 91
Registered: 11-2005
| | Posted on Saturday, December 09, 2006 - 4:05 pm: | |
Kidding aside--Fairlane is ripe for some changes--the tenant mix in the mall is still healthy--but there are now 1.5 empty anchors--L&T and half of Saks--I can't see Saks continuing on in a space they are only using half of. Considering this is still a "flagship" Taubmann property--they've got to be thinking of making some moves--but I suppose tough in the current economy. |
Detroitplanner
Member
Username: Detroitplanner
Post Number: 510
Registered: 04-2006
| | Posted on Saturday, December 09, 2006 - 5:18 pm: | |
The L & T wing is now completely cut off from the rest of the mall. There is a wall up there. Last year they cleared most of the second floor to bring in a major store. That major store was Media Play. As you all know media play went bye bye before they could open the store.
Other L&T's will be shutting down once the whole Macy's thing shakes out.
H & M also has moved around several stores so that it can be configured as a two story store in the middle of the Fountain Court. I don't really understand why Taubman did not offer H & M the L & T spot and it could be the major H & M for the region.
I don't really understand the Saks in Fairlane. It seems to have a strange personality. For a while there they tried to have a mini Saks and an outlet running at the same time, then they moved the outlet part from the second floor to the first. I've been in the first floor outlet store when they have also opened up the second floor to sell men's suits.
I think Saks knows its a good property, they just don't know what to do with it anymore. |
Hysteria
Member
Username: Hysteria
Post Number: 1813
Registered: 02-2006
| | Posted on Saturday, December 09, 2006 - 5:29 pm: | |
quote:Other L&T's will be shutting down once the whole Macy's thing shakes out.
The only Lord & Taylor in downtown Chicago (Water Tower Place) is closing in the spring. It's sure been a lousy year for old guard department stores. |
Jjaba
Member
Username: Jjaba
Post Number: 4563
Registered: 11-2003
| | Posted on Saturday, December 09, 2006 - 7:35 pm: | |
L&T can't make on the Miracle Mile? That's amazing.
With the Hayatt and Ritz-Carlton nearby, plus all the office workers nearby, Dearborn should remain strong in that spot. jjaba wishes they'd put the monorail back. That was way cool.
jjaba. |
Detroitplanner
Member
Username: Detroitplanner
Post Number: 512
Registered: 04-2006
| | Posted on Saturday, December 09, 2006 - 8:57 pm: | |
here is the Deal Jjaba:
L & T and Macy's are now owned by the Same Company. This shake out has closed both the L & T and the Strawbridges in Downtown Philly, while a Macy's opened. L & T and Macy's are carrying the same lines. There is now no need to have as many stores. Look for shake outs at 12 Oaks, Lakeside, as well as several malls in Chicago (like Woodfield) soon.
I once saw a plan for the Monorail where trains rain in a giant circle, hitting Not only the Hyatt, but also Ford HQ, the Parkland Towers, U of M Dearborn, Henry Ford College, Fairlane Club, AAA. It was never expanded to its full plan. |
Hysteria
Member
Username: Hysteria
Post Number: 1815
Registered: 02-2006
| | Posted on Saturday, December 09, 2006 - 9:57 pm: | |
Planner, when Federated acquired May Co. they sold Lord & Taylor to NRDC Equity Partners LLC.
I've said many times in the past that being acquired by May Co. equalled the kiss of death. Gone are Hecht's, Strawbridge's, L.S. Ayres, Kaufmann's - eventually Marshall Field's and Lord & Taylor ... May Co. should go down in U.S. history as the worst retail holding company ever. |
Ericdfan
Member
Username: Ericdfan
Post Number: 184
Registered: 08-2005
| | Posted on Sunday, December 10, 2006 - 12:52 am: | |
maybe H and M didn't want the old L and T space...It might have been to large for their needs... |
Fastcarsfreedom
Member
Username: Fastcarsfreedom
Post Number: 92
Registered: 11-2005
| | Posted on Sunday, December 10, 2006 - 9:05 am: | |
Hysteria--with all due respect, May was a very good department store operator over the years and was an extremely good corporate citizen in it's hometown of St. Louis. While May consolidated some of it's holdings over the years--it maintained, for the most part, it's regional nameplates. In fact, Federated is the operator that rationalized everything it owned down to just Macy's and Bloomindale's. FDS had already canned Bon Marche, Lazarus, Goldsmith's, Rich's and Burdines before it snapped up May and canned all of May's regional brands too. Dillard's has executed a similar strategy--if you look at the nameplates lost to brand rationalization--the vast majority were executed by either FDS or Dillards. The future for Lord & Taylor is uncertain under it's new ownership. As with any ownership change--what are deemed to be underperforming stores will be closed--I'm sure that's the case with Water Tower in Chicago. (Bon-Ton is closing the flagship Carson Pirie Scott & Co store on State Street also)...the days of being in downtown Chicago "just because" are clearly over--and if the sales aren't there--the stores aren't there. |
Detroitplanner
Member
Username: Detroitplanner
Post Number: 515
Registered: 04-2006
| | Posted on Sunday, December 10, 2006 - 11:23 am: | |
Man you need a scorecard to keep up with this, these are worse than banks! |
Hysteria
Member
Username: Hysteria
Post Number: 1829
Registered: 02-2006
| | Posted on Sunday, December 10, 2006 - 11:24 am: | |
Lately, at least. |
Fastcarsfreedom
Member
Username: Fastcarsfreedom
Post Number: 94
Registered: 11-2005
| | Posted on Monday, December 11, 2006 - 4:18 pm: | |
The Department Store sector has been fairly low growth (Though FDS, Kohls and JCPenney are doing surprisingly well growth-wise after years of stagnation)--so the path to growth for these operators is acquisitions. The list of local and regional nameplates that have disappeared in the past 10 years is astonishing. Rationalization is likely to continue--and we'll be left a few, large, national chains and a small number of local operators. Mall developers and owners will be forced to rethink their useage of floor space. Here in Canada we went from various national and regional nameplates down to only two national players in a matter of 10 or 15 years, with only a few regional players surviving to the day. Expect the same. |
Scottr
Member
Username: Scottr
Post Number: 100
Registered: 07-2006
| | Posted on Tuesday, December 12, 2006 - 2:34 am: | |
fastcarsfreedom - i agree, jcpenney has done surprisingly well. i worked for them from 1996-2001, and was buying up mad amounts of stock through our savings and pension plan when it was sub-$10/share - a shame i sold it off when i left the company a year later (i still tripled my money in that short time).
As fastcarsfreedom said, mall operators have to rethink their usage of floor space. At Genesee valley in flint, when montgomery ward's closed, they tore it down (despite the fact it was built in the 90's, iirc) and replaced it with what they are calling 'Outdoor Village' - their take on a so-called lifestyle center, with a barnes and noble and several other smaller stores. Personally, i'm wondering what they'll do with the vacant mervyn's space on the other side of the mall, which was built the same time as wards. There certainly isn't the demand for large department stores anymore - they are are being attacked by walmart prices on one side, and hundreds of specialty stores' fashions on the other, and a complete inability to compete with either. It's leading to the complete homogenization of retail in america, and i don't think that's a good thing. There really is only a few major department stores left as it is anymore, especially with macy's killing off so many.
hopefully bon-ton will keep the name - at least it will give me the illusion of something different, even if it's just a different name on the door. it's not perfect, but better than the same 4 department stores in every mall, in every city, along side the same restaurants, coffee shops, home improvement stores, etc etc etc... |
Fastcarsfreedom
Member
Username: Fastcarsfreedom
Post Number: 96
Registered: 11-2005
| | Posted on Tuesday, December 12, 2006 - 11:28 am: | |
Bon-Ton's policy thusfar has mostly been to keep the regional nameplates--a policy that is out of vogue in the industry. In the past it has consolidated nameplates--in the 90s it bought up the AM&As chain in the Buffalo/Rochester area and converted everything over to Bon-Ton. AM&As had a strong brand in that market and their share shrunk noticably after the switch (Much going to Kaufmann's--another name now erased). They also closed up the old AM&As flagship in downtown Buffalo. When they snatched up Elder-Beerman they seemed to be heading in the same direction--they'd begun using the co-brand Elder-Beerman/The Bon-Ton. When they snapped up the Northern Department Store Group from Saks (Boston Store, Carson Pirie Scott, Bergners, Youngers, Herberger's) they seemed to back away and now have the NDSG hexagon and font on the Elder-Beerman branding--with the Bon-Ton name erased. One thing Bon-Ton does is close urban stores--they've already announced they are killing off the Carson's flagship on State Street in Chicago come springtime. |