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Keith McCord ReportingFor years we called it ZCMI. Then we had to get used to the name Meier & Frank. Now that's all about to change again.
Chalk it up to mergers and acquisitions, and that's what's happening here. One company buys another, and then consolidates. But for Utah, this change could be very beneficial.
Currently Meier & Frank, sometime next year at least one of the stores will become Macy's, and Salt Lake business leaders couldn't be happier.
Clark Ivory, Chairman, Salt Lake Chamber of Commerce Board: "Any successful development, particularly the downtown development, and ultimately the redevelopment of the Cottonwood Mall requires great anchors, and definitely Macy's is that."
Macy's is coming to Utah because its parent company--Federated Department Stores-- recently bought out The May Company, the parent of Meier & Frank. Shoppers on Main Street or at Cottonwood Mall won't see any changes in the stores, or their products until at least the fall of 2006. All jobs at Meier & Frank are secure at least until March.
In terms of image, the addition of Macy's huge brand definitely puts Salt Lake into big leagues. Add to that the upcoming massive downtown redevelopment plan and it will become a magnet.
Clark Ivory: "I think it means a lot to those who are coming in from out of town. They know right away where to go. It's the place where Nordstrom and the Macy's both are, and I think that's a draw."
And not just for shoppers. Out-of-state businesses, looking for expansion opportunities will certainly gave Utah a serious look. The impacts on the economy could be huge.
Clark Ivory: "But it will also attract restaurants and other major retailers who will supply us those shopping opportunities that we are now looking at out of state."
Again, the Meier & Frank name will remain at least through the holidays. The changes will come later next year. By the way, when this is all done, Utah will have two different Macy's outlets with different spellings -- the national chain Macy's and the locally-owned and operated grocery store, Macey's-- with an "e".
