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R H Macy Co Inc

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BUSINESS
January 28, 1992 | CARLA LAZZARESCHI, TIMES STAFF WRITER
Shoppers at Bullock's, I. Magnin's and Macy's stores are not likely to be directly affected by the Chapter 11 bankruptcy petition filed Monday by R. H. Macy & Co. However, the filing raises a number of questions and concerns among consumers, creditors and employees. Here are answers to some of the most frequently asked questions: Q Do I still have to pay my charge accounts? A Certainly. The bankruptcy filing does not change your credit relationship with Macy's, Bullock's or I. Magnin.
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BUSINESS
April 1, 2009 | Times Wire Reports
Macy's Inc. said it would book a $5.1-billion after-tax charge to write down the value of goodwill in 2008. The charge falls within the range of the Cincinnati-based department store retailer's forecast of $4.5 billion to $5.5 billion. Goodwill represents certain values a company has beyond its physical assets, such as its brand, customers and reputation. The impairment charge, which totals $12.07 a share, is mainly the result of the weak economic environment and the decline in Macy's share price, which fell 60% in 2008.
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BUSINESS
August 29, 1991 | From Times Staff and Wire Reports
Macy's Junk Bonds Rise on Sales Projection: R. H. Macy & Co. Inc.'s junk bonds rose after it was reported that the retailer expects sales to rise 8.3% over the next two quarters. The company's 14.5% junk bonds maturing in 1998 rose 50 cents to $84.50 for securities with a $100 face value. The report in the Wall Street Journal also said Macy projected its operating profits would rise 69% during the coming two quarters, which include the crucial Christmas season.
BUSINESS
December 29, 2007 | From Times Wire Services
Macy's Inc. said it would close nine poor-performing stores and cut 899 jobs. The stores to be shuttered are in Ohio, Louisiana, Utah, Indiana, Oklahoma and Texas. All the stores were acquired when the chain bought May Department Stores Co. in 2005, spokesman Jim Sluzewski said. The Cincinnati-based retailer said it expected to open five new stores in 2008 and six to eight more in 2009.
BUSINESS
January 10, 1992 | CARLA LAZZARESCHI, TIMES STAFF WRITER
Prices of R. H. Macy & Co. Inc. junk bonds fell sharply Thursday after a securities analyst said the company might have to file for bankruptcy court protection after the disappointing holiday sales season for the troubled old-line retailer.
BUSINESS
December 20, 1994 | GEORGE WHITE, TIMES STAFF WRITER
Citing an improved California economy, Saks Fifth Avenue said Monday it will acquire four of the seven available I. Magnin store sites from R. H. Macy & Co., including stores in Beverly Hills and San Diego. "California is a vibrant marketplace now," said Saks Chairman Philip Miller. "Regions go through economic cycles, but California will be a premier marketplace for the foreseeable future and we want a greater presence." In addition to the Southern California stores, Saks is acquiring I.
BUSINESS
July 16, 1991 | CHRIS WOODYARD, TIMES STAFF WRITER
Department store owners are rediscovering a long-neglected group of customers that make up roughly half the human race: men. Traditionally, men's clothing sections have covered barely a floor of a department store. They might even be shunted off to a corner. And no matter how macho the man, retailers say there is about a 65% chance that a woman either bought his new clothes or influenced his decision. But nowadays, more men are hitting the malls and buying bolder, trendier clothes.
BUSINESS
March 30, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
Macy's clearance store at Crystal Court in Costa Mesa will be transformed into the chain's largest home furnishings store in the West by the end of the next year, the giant department-store chain announced Monday. The move is expected to provide a long-awaited boost to the struggling annex of South Coast Plaza, converting it into something of a home furnishings pavilion.
NEWS
June 4, 1991 | OSWALD JOHNSTON and KEVIN RODERICK, TIMES STAFF WRITERS
The Supreme Court agreed Monday to hear a major constitutional challenge to Proposition 13's formula of imposing higher taxes on real estate acquired since 1975, a move that could raise the tax bill for millions of California property owners and lower it for others. In taking up an appeal filed by a Macy's department store in Concord, the justices will for the first time review the constitutionality of the tax revolt initiative approved by California voters in 1978.
BUSINESS
October 5, 1989 | MARTHA GROVES, TIMES STAFF WRITER
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.
BUSINESS
July 19, 2007 | Daniel Yi and Andrea Chang, Times Staff Writers
Macy's wants to be America's department store, but America isn't entirely buying it -- and that could mean the entire company could soon be sold. Buyout king Kohlberg Kravis Roberts & Co. is close to reaching a deal to buy Macy's Inc. for $24 billion, Women's Wear Daily reported Wednesday. Both sides declined to comment on the report, but investors greeted the news by bidding up Macy's shares $3.06, or 8%, to $43.09.
NATIONAL
December 23, 2006 | From Times Wire Reports
Macy's has pulled from its shelves and its website two styles of Sean John hooded jackets, originally advertised as featuring faux fur, after an investigation by the Humane Society of the United States concluded that the garments contained fur from a nondomesticated species of dog called "raccoon dog." The species is indigenous to Asia and is said to be raised in large numbers because its fur closely resembles raccoon.
NATIONAL
November 24, 2006 | Jennifer Maloney, Newsday
Flying low through gray skies, Snoopy swooped down Broadway on Thursday, his aviator goggles slick with rain. Fans lining the parade route had waited in the soggy cold, wondering whether the inflatable stars of the 80th annual Macy's Thanksgiving Day Parade would be grounded by strong gusts of wind. Then the beagle bobbed into view. "There's Snoopy!" shouted a man peering up 8th Avenue from 34th Street.
BUSINESS
October 20, 2006 | From the Associated Press
A California appeals court slashed a refund that San Francisco owed Macy's by millions of dollars, despite the retailer's successful challenge to a local business tax. Macy's, a unit of Federated Department Stores Inc., won a ruling in 2004 that a business tax imposed by the city in the 1990s was unconstitutional. A Superior Court judge had granted the retailer's request for a refund of the $13 million in business taxes it paid while the ordinance was in effect.
BUSINESS
October 14, 2006 | From the Associated Press
When Macy's decided to sell baskets made by Rwandan widows, the store was swayed in part by the prospect of contributing to a developing economy and in part by the women's tales of suffering during their country's 1994 genocide. But Macy's was clear: This may have been charitable, but it was not charity. Baskets, woven from sisal and sweet grass, are inspected to verify they meet quality requirements and then paid for in cash on the spot.
NATIONAL
October 10, 2006 | From Times Wire Reports
A small garbage fire at Macy's Herald Square flagship store in New York City forced hundreds to evacuate, but no injuries were reported, authorities said. The fire, which began in the basement in an old elevator shaft, sent smoke up to the 12th floor, Fire Department Capt. Robert Carroll said. The cause was under investigation.
BUSINESS
January 27, 1998 | RUSS STANTON, TIMES STAFF WRITER
Hoping to seize on worker discontent at stores owned by Cincinnati-based Federated Department Stores Inc., the Teamsters union on Sunday launched a second organizing drive in Orange County, this one aimed at Macy's South Coast Plaza stores. Employees circulated cards authorizing Teamsters Local 848 of El Monte to represent them in collective bargaining, and by day's end had collected 31 signatures.
NEWS
December 28, 1995 | GREG JOHNSON, TIMES STAFF WRITER
Federated Department Stores ended nearly two years of intense speculation Wednesday by selecting the open-air Fashion Island Newport Beach shopping center as home for Orange County's only Bloomingdale's department store. The decision was seen as a coup for the Irvine Co.'s shopping center and a bitter defeat for the Segerstrom family's South Coast Plaza, Federated's first choice for the premiere Bloomingdale's location in Orange County.
BUSINESS
April 7, 2006 | From Reuters
Martha Stewart Living Omnimedia Inc. said Thursday that it would extend its reach by launching an exclusive line of home products in Macy's department stores. Shares of the lifestyle media company rose 13.7%. The Martha Stewart Collection, which will include towels, dinnerware and holiday decor, is expected to debut in fall 2007 in Macy's stores and on Macys.com. Martha Stewart Living already sells home goods at Sears Holdings Corp.'s Kmart unit and Sears Canada Inc.
NATIONAL
December 9, 2005 | Stephanie Simon, Times Staff Writer
Christmas is back. A few weeks ago, banners outside every Lowe's store in the nation announced a sale on "Holiday Trees." Hundreds of Christians called to complain that the home-improvement chain was shunning Christmas. The banners came down. Now the fake firs and pines are clearly labeled "Christmas Trees." Target, too, started the season with a generic marketing theme. It pushed holiday plates, holiday leggings, holiday ornaments, holiday trees -- with nary a mention of Christmas.
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