Is Macy's going down?

At one time Federated Deopartment the parent company of Macy's and Bloomingdales seemed untouchable in the retail sector. The company merged with May department stores and went through numerous name changes, converting all of May's stores to their Macy's brand. CEO of Federated Terry Lungren stated that because the Macy's name is so well recognized their is no need to keep names of regional stores such as Marshall fields and foley's which operated under May department stores. The name change of stores such as Marshall Fields was not converted Macy's without controversy as many of the residents in the Mid West who were loyal to the store look at the move as the end of an era for a beloved store; some even decided to boycott the new Macys.

The retailer, which plans to change its corporate name to Macy's Inc. so long as its shareholders approve the measure on Friday, reduced its forecast for second-quarter, but reiterated its forecast for the full year. The company reported that it swung to a profit in the latest quarter, helped by higher gross margins, but it said sales were "disappointing" at its new Macy's stores.