Magnin

In what is likely to be a closely watched experiment in the retail industry, R. H. Macy & Co. announced plans Friday to open the largest and most complete menswear store in Southern California at Orange County's premiere shopping mall. The New York-based retailer said it will convert an I. Magnin store at South Coast Plaza in Costa Mesa into the first Bullock's men's store.

Retailer I. Magnin, announcing the closing of its Oakbrook Center store in February, says it will end its 19-year stay in the Chicago area. Brent McDaneld, a spokesman for the San Francisco-based chain, said the 134 employees at Oakbrook were told last Friday about the closing. He said talks were also under way to move out of I. Magnin's locations at Northbrook Court and on North Michigan Avenue. All three locations are in upscale shopping areas. I.

The junk bonds of R. H. Macy & Co. bounced back Friday afternoon after tumbling earlier, but bankruptcy-wary analysts and suppliers still expressed concern about the reduced flow of credit to the big retailer. Worries mounted during the week amid word that many of the nation's biggest factoring companies--lenders that finance apparel firms and other key retail suppliers--tightened credit on merchandise bound for Macy's.

"Say Goodby to Bullocks Wilshire" (Oct. 5)? You've got to be kidding! The flagship Bullocks Wilshire store to be known as I. Magnin? Impossible! A good alternative: The removal of Rose Marie Bravo as chairman and chief executive of I. Magnin. Obviously the lady knows nothing about merchandising. I have big news for Bravo. I. Magnin has nothing for people under 50! I don't like that store and I'm not alone! LIESA SCHILLER Los Angeles

Bullocks Wilshire, the stately, 70-year-old specialty fashion chain with the landmark Art Deco flagship store in Los Angeles' Mid-Wilshire district, will be renamed I. Magnin on Feb. 1, owner R. H. Macy & Co. said Wednesday. In addition, the 1928 Bullocks Wilshire building, which is listed in the National Register of Historic Places, will undergo a multimillion-dollar restoration beginning next spring. The store will be known as I. Magnin/Wilshire. Macy's, which bought I.

Cyril Isaac Magnin, a popular San Francisco social figure who both revolutionized the way women buy clothing and befriended diplomats and presidents, died Wednesday. He was 88. Magnin, dubbed "Mr. San Francisco" by no less an authority than columnist Herb Caen, had been hospitalized under an assumed name at the UC Medical Center since May 1. He was admitted with a heart condition, but the exact cause of death was not disclosed.

Cyril I. Magnin, a business tycoon who wielded clout with Presidents and governors and helped improve U.S. relations with China and the Soviet Union, has died at 88, it was revealed today. Magnin, known locally as "Mr. San Francisco," had been hospitalized under an assumed name since May 1. He died this morning at the University of California Hospital of an undisclosed illness.

At the Bullocks Wilshire flagship store, that Art Deco masterpiece in Los Angeles' Mid-Wilshire district, workers went about their business last Tuesday morning with perhaps a bit more briskness and efficiency than usual. Vacuum cleaners whirred, and salespeople with dust mittens took frequent swipes at their countertops. Why the fuss? "Mr. Macy," an elevator operator with salt-and-pepper hair and mustache said with a wink. Mr. Macy, indeed.

Campeau Corp. won its 2-month-old battle for Federated Department Stores Inc. today, but its rival for the nation's fifth-largest retailer will buy two of Federated's divisions, the stores announced today. R.H. Macy & Co. Inc. came away from its fight for Federated with the Bullock's, Bullocks-Wilshire and I. Magnin chains. A source described Macy as "very happy" with the outcome. Toronto-based Campeau, a leading North American retailer and real estate company, has agreed to pay $6.

Federated Department Stores, parent company of Bullock's and I. Magnin department stores and Ralphs supermarkets, today became the target of an unsolicited, $4.2-billion takeover offer by Canadian real-estate developer Campeau Corp. Campeau, which over the last year has sold off many of the assets of a retailer it bought in 1986, made a $47-a-share offer for Federated. With its bid, Campeau is targeting one of the nation's premier retailers.