business news in context, analysis with attitude

Yesterday, MNB reported that Federated Department Stores announced that it is converting its Marshall Field’s stores to the Macy’s banner by autumn of next year.

Now, there is more news from Federated. It also is changing the name of its Texas-based chain, Foley’s, to Macy’s, and eliminating the division’s Houston headquarters and about 1,200 jobs.

The Houston Chronicle reports that “late Tuesday morning, all of Foley's corporate staffers were summoned to a large conference room in the downtown headquarters, according to a Foley's executive who asked to remain anonymous. Foley's chief Andrew Pickman delivered the news from a written statement, then left the room without fielding questions, said the executive, who recalled that the room grew quiet.”

And, the paper wrote, “Tom Cole, Federated's vice chairman for support services, said he suspects that ‘many’ former Foley's staffers will find new positions at one of Federated's other division headquarters. ‘We will have a lot of the Foley's culture in our ongoing organization,’ he said.”
KC's View:
Sure. That always happens.

The extent to which the folks at Federated are willing to try to delude themselves and others seems almost without limit.