joseph e. brooks was the ceo of lord and taylor in 1970s.
joseph e. brooks was the ceo of lord and taylor in 1970s.
who is the ceo of lord and taylor in 1970s?
joseph e. brooks
lord & taylor, new york, new york, was founded in 1826. the chain was a founding member of the associated dry goods corp. organization (then american dry goods) in 1916. it became part of may in the 1986 may/adg merger. while a part of associated and under the leadership of ceo joseph e. brooks, during the 1970s, the chain aggressively expanded into texas, illinois, and michigan. in the early 1980s, south florida saw 11 stores opened in quick succession. they partially withdrew from the oil-shocked texas and southern florida markets in 1989-1990 after the 1986 may/adg merger. after may assumed ownership, adg's hahne's division (several new jersey locations) and several former john wanamaker (philadelphia) locations were combined under the lord & taylor name-plate. from 1997-2006, lord & taylor occupied the former wanamaker's landmark store in downtown philadelphia. during the 1990s and early 2000s, may took the chain national. under the leadership of ceo marshall hilsberg, lord & taylor entered expansion mode opening stores as far west as las vegas, nevada. at its then peak, lord & taylor operated as many as 86 stores across the country.
associated dry goods
federated department stores, now macy's inc, acquired may department stores on august 30, 2005. on january 12, 2006, federated chairman, president, and ceo terry lundgren announced that lord & taylor would be sold by the end of the year. in a move that took advantage of valuable real estate, federated announced on march 10, 2006, that seven conflicting lord & taylor locations would either close or downscale into macy's. the legendary center city, philadelphia store, former flagship of the john wanamaker chain, opened after a one-month renovation as macy's city center on august 1, 2006. on june 22, 2006, nrdc equity partners, llc announced it would purchase lord & taylor for $1.2 billion after federated converted and closed the seven locations that it previously announced were closing; the sale completed in october 2006. federated continued to service lord & taylor consumer credit accounts in an agreement with nrdc under the terms of its sale until mid-2007.
lord & taylor