Annual Macy's, Inc. Shareholder Meeting:
Marshall Field's Supporters Confront CEO Terry Lundgren
About Restoring Chicago's Icon
(CINCINNATI, May 16, 2008) Chicago-based shareholders and representatives from FieldsFansChicago.org and Macy's CEO, Chairman and President Terry Lundgren engaged in a sometimes-heated Q & A about returning Marshall Field's to Chicago. The ten-minute long Q & A was at the end of Macy's 2008 Annual Shareholders Meeting in Cincinnati which was attended by hundreds.
Shareholder Daniel Harcourt of Schaumburg pinned on a button that said, "I Want My Marshall Field's" as he confronted Mr. Lundgren. "My Macy's is what you're pushing for, but for me and most of my Chicago neighbors, I want my Marshall Field's."
Shareholder representative and FieldsFansChicago.org co-organizer James McKay of Chicago noted to Mr. Lundgren that at the recent Looptopia event, those wearing pin-on buttons supporting Marshall Field's outnumbered those carrying Macy's bags by more than 7 to 1. McKay also noted that a return to Field's in Chicago could duplicate the huge success that Lord and Taylor is having despite the troubled economy. Lord and Taylor was sold by Macy's in 2006.
The Q & A grew especially heated at the end. Shareholder-representative Paul Fine of Chicago pressed Lundgren on exact sales figures for former Marshall Field's locations in the Chicago area. Lundgren asserted that the former Field's locations (we presume that's including former Dayton's stores in metro Minneapolis and former Hudson's stores in metro Detroit) were among the most unprofitable but he refused to release store-by-store sales figures for State Street and other Chicagoland locations that were converted from Field's to Macy's.
FieldsFansChicago.org continues its efforts to bring back Chicago's Marshall Field's. FieldsFansChicago.org has distributed over 109,000 leaflets encouraging a boycott until Field's is brought back. Over 102,000 Field's loyalists have worn free pin-on buttons and lapel stickers declaring that they want Field's returned. There have been five rallies in front of the State Street flagship store with the largest on 9/9/07 drawing roughly 300 Field's supporters and international media coverage. At Chicago's recent Looptopia event, almost 2,000 buttons and about as many leaflets promoting the return of Marshall Field's were distributed. Field's supporters wearing pin-on buttons outside the State Street store out-numbered those with Macy's bags more than 7 to 1.
FieldsFansChicago.org organizers maintain, "With retail enduring difficult times, it makes incredible sense for Macy's, Inc. to unlock the immense value and opportunity that lies in one of its most sterling assets, Marshall Field's. Following the 'come-back' example of Lord & Taylor which recently has seen its best business in 15 years, it's clear that customers are still willing to spend at stores that are unique. It's clear in American business, anything can happen. Given the relentless outpouring for the return of Marshall Field's, it's clear that it's time to 'give the lady what she wants'Marshall Field's!"
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Revision of 05.19.2008