We're swapping 12 stores for 12 stores. We'd identified 13 of the 15 for divestiture. This was the best deal for the properties.
We're studying the brand, and when we make some decisions, we'll be letting the world know.
There are only certain windows, certain periods of time when executives can trade stocks and exercise options.
That brings a measure of simplicity to pricing and reliability assuring shoppers that what they can buy today will never be offered at a lower price.
The proof will be in the integration of the transition.
If there are opportunities at other Macy's stores in the area, we will attempt to place them in other positions.
Today was the day we made the decision that the plan is to sell Lord & Taylor as an ongoing business.
That's not out of the question. We are talking to retailers, we are talking to developers.
It will be generally in a 60-day time frame, depending on how the merchandise sells. At the point it is cleared, the store will close and be sold to someone else.
We understand the emotions. Field's is a great name and a great tradition and it was a hard decision for us to make. But the truth is, Field's business has not been good and we think we have a chance to revitalize those stores as Macy's.
