For you. World globe An icon of the world globe, indicating different international options. Get the Insider App. Click here to learn more. A leading-edge research firm focused on digital transformation. Good Subscriber Account active since Shortcuts. The retailer filed for Chapter 11 bankruptcy protection Sunday, joining the growing list of retailers who say they were impacted by temporary store closures amid the coronavirus pandemic.
But department stores and apparel retailers with a heavy commitment to shopping malls were grappling with declining foot traffic long before the pandemic. Crew have all filed for Chapter Save better, spend better: Money tips and advice delivered right to your inbox. Sign up here.
The retailer came into its own in the midth century, a good time for the American middle class, which has declined ever since as income inequality has steadily worsened. Much of the credit goes to Dorothy Shaver, a chief merchandiser who eventually led the company and shaped not just its logo but also its support of designers in the U. The department store conglomerate has seemed more focused on its real estate holdings than on the storied retailers that sit upon them, perhaps with the exception of luxury department store Saks Fifth Avenue.
But it was its people, its buyers, merchandisers and associates, who were arguably most responsible for that reputation. They're a depository of other brands, but they don't stand for something.
The retailer opens its third location at Grand Street and Broadway after opening a second location at Grand and Chrystie Streets seven years earlier. The main store moves to a new cast iron-frame building at 20th Street and Broadway that has a steam-powered elevator. That includes a suburban expansion employing cutting-edge modern architecture and interior design, and the development of the first "shop-in-shop" departments, like those for teenagers , petite women and, later, pets.
She also forged the retailer's distinctive handwritten-signature logo. To promote fashion designers in the United States, Shaver devises a program she calls "The American Look," including creative and fashion awards, which historians say helped move the world's fashion capital from Paris to New York City.
The retailer gains an enduring reputation for its stylish dresses, which are affordable for the middle class. May Department Stores, the third-largest department store conglomerate in the U. Federated Department Stores changes its name to Macy's. Dollar General's business is booming. It's also vulnerable to crime, police say. That leaves just 14 locations open, a remarkable decline for the nearly year-old retailer — the first department store established in the United States.
The company was once a mainstay of high-end fashion. Le Tote tried reviving the brand with a pop-up store in New York City and remodeling its remaining stores with a focus on technology.
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