One story, three markets
MINNEAPOLIS, Jan. 12 /PRNewswire/ -- Dayton's, Marshall Field's, Hudson's announced today that Dayton's and Hudson's store names will change to Marshall Field's to increase the power of the company's brand and strengthen its competitive position as a national department store.
"We selected Marshall Field's name because it is known worldwide and represents our largest business," said Linda Ahlers, president of Dayton's, Marshall Field's, Hudson's.
"One name gives us the opportunity to focus on a single brand at all levels of our business. This is particularly important for our Internet initiatives and the launch of our online gift registry that give us a presence beyond the markets where we have stores. These initiatives will be strengthened by a national brand," said Ahlers.
The company will continue to operate its 60 full-line department stores and 4 home stores. There is no significant change in how the company will operate its stores aside from normal course of business changes.
By adopting the Marshall Field's name, the company will enhance its position as a leading department store while continuing to maintain the local traditions that are important to guests and team members.
"Our commitment to ensuring that the communities we do business in are strong and vital will not change," said Ahlers. "We will continue to give five percent of our federally taxable income back to the communities we serve."
Dayton's, Marshall Field's, Hudson's is part of Target Corporation (NYSE: TGT), and is one of the largest individual department store operations in the U.S. The company has annual revenues of over $3 billion, generated from more than 14 million square feet of retail space at 64 stores in eight states. The company employs approximately 35,000 team members.
SOURCE Target Corporation
Score one for Chicago's civic pride.
Target Corp. announced Friday that it is changing the name of all of its Dayton's and Hudson's department stores to Marshall Field's.
The move--a blow to political egos in Detroit and Minneapolis, where the other two chains are based--is being made to improve the brand image of Target's department stores, the Minneapolis-based retailer said.
"We selected Marshall Field's name because it is known worldwide and represents our largest business," said Linda Ahlers, president of Target's Department Store Division.
The increasing importance of the Internet also played a role, as did a desire to cut costs, the company said. Target will launch an online department store gift registry later this year. Having a single site, instead of three, is more efficient.
It all came down to an unsentimental business decision.
In its bid to conquer the Internet with a unified name, Minneapolis-based Target Corp. announced Friday that it would change the name of its Dayton's and Hudson's department stores to Marshall Field's.
The Field's name, Target executives claimed, generates far more resonance with shoppers worldwide than the Dayton's moniker, especially important as the retailer prepares to launch an online gift registry later this year. And in retail these days, a strong brand name rules.
Dayton's, a leading name in Minnesota retailing for nearly a century, will vanish later this year.
Target Corp. said Friday it plans to convert its 60 department stores to a single name -- Marshall Field's -- to boost its national brand recognition.
After more than a century as a household word for Michigan shoppers, the Hudson's department store name will fade away.
Target Corp. said Friday it will change the names of all of its Hudson's and Dayton's department stores to Marshall Field's this year. Hudson's operates 21 stores in Michigan.
The Minneapolis-based retailer said it wants to strengthen its company brand and position itself as a national department store.
[UPDATE: Three years after the re-naming, Target sold the under-performing Marhall Field's chain (its Minneapolis-based parent) as of Aug. 1, 2004, to concentrate on its better-preforming core Target opertions.]
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