Editing The May Department Stores Company

{{Short description|American holding company of department stores}}
{{about|the defunct holding company|the department store chains|May Company California|and|May Company Ohio|and|May-Daniels & Fisher|the unrelated discount store chain|J.W. Mays}}
{{Infobox company
| name = The May Department Stores Company
| logo = May logo.gif
| logo_size = 
| logo_alt = 
| logo_caption = 
| image = 
| image_size = 
| image_alt = 
| image_caption = 
| type = [[Public company|Public]]
| industry = [[Retail]]
| genre = [[Department store]]s
| founded = {{Start date and age|1877}} in [[Leadville, Colorado|Leadville]], [[Colorado]], United States
| founder = [[David May (merchant)|David May]]
| defunct = {{End date and age|2005|8|30}}
| fate = [[Acquisition of The May Department Stores Company by Federated Department Stores|Acquisition]] by [[Macy's, Inc.|Federated Department Stores]]
| hq_location = [[St. Louis]], [[Missouri]], United States
| num_locations = 
| num_locations_year = 
| area_served = United States
| products = {{flat list|
* Clothing
* footwear
* accessories
* bedding
* furniture
* jewelry
* beauty products
* housewares
}}
| num_employees = 
| num_employees_year =
| footnotes = 
}}

'''The May Department Stores Company''' was an American [[holding company]] of [[department stores]] founded in 1877 by [[David May (merchant)|David May]]. It operated several regional department stores throughout the United States, which were managed as distinct business divisions with limited interconnectivity between them. May was [[Acquisition of The May Department Stores Company by Federated Department Stores|acquired]] by [[Macy's, Inc.|Federated Department Stores]] in 2005, and the remaining May-owned stores were converted to [[Macy's]] in 2006.<ref>"[http://www.accessmylibrary.com/coms2/summary_0286-18916239_ITM Federated and May Announce Merger; $17 billion transaction to create value for customers, shareholders.] {{webarchive |url=https://archive.today/20120716135640/http://www.accessmylibrary.com/coms2/summary_0286-18916239_ITM |date=July 16, 2012 }}" ''Business Wire'', 28 February 2005. Retrieved on August 19, 2009.</ref><ref>[http://www.macysinc.com/company/his_2.asp The Drive to Differentiate - Macy's, Inc<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20080408115849/http://www.macysinc.com/company/his_2.asp |date=April 8, 2008 }}</ref>

==History==
[[File:Christmas advert for Hamburger's Department Store, Los Angeles, 1905.png|thumb|right|Christmas advertisement for Hamburger's Department Store, Los Angeles, 1905]]
[[Image:Highsmithmaycompanywilshire.jpg|thumb|right|The 1939 [[Streamline Moderne]] style [[May Company Building (Wilshire, Los Angeles)|May Company Wilshire]] building in [[Los Angeles]]. It was later adapted for use as [[The Academy Museum of Motion Pictures]]]]

In 1877, the May Department Stores Company was founded in [[Leadville, Colorado|Leadville]] during the [[Colorado]] [[silver rush]]. In 1889, the headquarters moved to [[Denver, Colorado|Denver]]. In 1899, May acquired the E.&nbsp;R. Hull & Dutton Co. of Cleveland, renaming it the May Company, Cleveland, later named the [[May Company Ohio]].

In 1905, the headquarters moved to [[St. Louis]].<ref name="autogenerated2">[http://www.macysinc.com/company/his_3.asp The Drive to Differentiate - Macy's, Inc.<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20080313040750/http://www.macysinc.com/company/his_3.asp |date=March 13, 2008 }}</ref> In 1910, the business was officially [[Incorporation (business)|incorporated]] as the May Department Stores Company.<ref name="autogenerated2" /> In 1911, [[The Famous Clothing Store]] (owned by May) and [[the William Barr Dry Goods Company]] merged to create [[Famous-Barr]].<ref name="autogenerated2" /> In 1912, May acquired the M. O'Neil Co. (O'Neil's) department store of [[Akron, Ohio]]. In 1923, May acquired A. Hamburger & Sons Co. in [[Los Angeles]] and renames it [[May Company California]].<ref>{{Cite web|title=Asher Hamburger & Family|publisher=Jewish Museum of the American West|url=http://www.jmaw.org/hamburger-jewish-los-angeles/  |access-date=April 10, 2018}}</ref> In 1946, May acquired the [[Kaufmann's]] chain based in [[Pittsburgh]], retaining it as a separate division.<ref name="autogenerated2" /> In 1947, May acquires Strouss-Hirshberg Co. based in [[Youngstown, Ohio]], retaining it as a separate division and changing the name to [[Strouss]].

In 1956, May acquired the Daniels & Fisher Company of Denver, merging it with May stores in the area to create a new [[May-Daniels & Fisher]] division.<ref name="autogenerated4">[http://www.macysinc.com/company/his_4.asp The Drive to Differentiate - Macy's, Inc.<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20080313040755/http://www.macysinc.com/company/his_4.asp |date=March 13, 2008 }}</ref> In 1958, May acquired the [[Cohen Brothers]] Department Store in [[Jacksonville, Florida]], turning it into the May Cohens chain.<ref>{{cite news |url=http://www.jaxdailyrecord.com/showstory.php?Story_id=51299 |title=50 years ago this week |date=November 24, 2008 |newspaper=[[Financial News & Daily Record]]}}</ref> In 1959, May acquired [[Hecht's|the Hecht Company]] of [[Baltimore]], adding it as a new division.<ref name="autogenerated4" /> In 1965, May acquired [[G. Fox & Co.|G.&nbsp;Fox & Co.]] of [[Hartford, Connecticut]]. In 1966, May acquired the [[Meier & Frank]] chain based in [[Portland, Oregon]], adding it as a new division.<ref name="autogenerated4" /> David's grandson [[Morton May]] became the chairman in 1951 and headed the company for 16 years. Morton May was active in St. Louis civic affairs and was a patron of the [[St. Louis Art Museum]]. In 1968, [[Venture Stores]] was founded when Target co-founder [[John Geisse|John F. Geisse]] went to work for May Department Stores.{{Citation needed|date=March 2020}} Under an antitrust settlement reached with the [[Department of Justice]], May was unable to acquire any more retail chains at the time, and the department store company needed a way to compete against the emerging discount store chains.

In August 1978, May sold the 70-store Consumers chain of catalogue merchants to the Canadian [[Consumers Distributing]].<ref>{{cite news |url=https://news.google.com/newspapers?nid=2194&dat=19811118&id=2a4yAAAAIBAJ&sjid=5-4FAAAAIBAJ&pg=1164,5107737 |newspaper=[[Ottawa Citizen]] |date=18 November 1981 |title=600 to lose jobs as Bay closes Shop-Rite stores |first1=Keri |last1=Sweetman |first2=Denise |last2=Harrington |page=3}}</ref><ref>{{cite news | url=https://www.nytimes.com/1979/03/22/archives/earnings-may-stores-net-up-in-quarter-and-year.html | title=EARNINGS | first=CLARE M. | last=RECKERT | work=[[The New York Times]] | date=March 22, 1979 | url-access=subscription}}</ref> It closed its stores in 1996.<ref>{{cite news|title=Consumers Distributing closes the book on catalogue shopping|url=http://www.cbc.ca/news/canada/edmonton/throwback-thursday-edmonton-stereos-parks-1.4241144|work=[[CBC News]]|date=August 9, 1996|access-date=August 10, 2017}}</ref>

In 1986, May acquired the [[Associated Dry Goods]] holding company and its chains (including [[J. W. Robinson's]] and its [[Robinson's of Florida|Florida division]], [[Loehmann's]], [[Lord & Taylor]], [[Caldor]], [[Joseph Horne Company]], [[The Denver Dry Goods Company]], [[Goldwater's]], [[Hahne and Company]], [[L. S. Ayres]], [[H. & S. Pogue Company]], [[Stewart Dry Goods]], and [[Sibley's]]), the largest-ever retail acquisition in history at that time.<ref>[http://www.macysinc.com/company/his_5.asp The Drive to Differentiate - Macy's, Inc<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20080313040802/http://www.macysinc.com/company/his_5.asp |date=March 13, 2008 }}</ref> In 1987, May renamed the five-unit May-Cohens as May Florida and sold the ten stores from Robinson’s of Florida to [[Maison Blanche]] so as to give them a foothold in the Floridan market. Stores at [[Tyrone Square Mall|Tyrone Square]], [[Orlando Fashion Square]], [[WestShore Plaza]], [[Altamonte Mall]], [[University Mall (Tampa, Florida)|University Square Mall]], [[Countryside Mall]], [[Crossings at Siesta Key|Southgate Plaza]], [[Edison Mall]], [[Coastland Center]], and [[The Florida Mall]] were included in the deal along with a proposed 11th store at [[Lakeland Square Mall]]. May acquired [[Foley's]] in [[Houston]] and [[Filene's]] in [[Boston]] from [[Federated Department Stores]] whereas May Florida was also acquired by Maison Blanche. As a result, May withdrew from Florida by closing the Gateway location and converting those at Roosevelt Square, [[Regency_Square_Mall_(Jacksonville)|Regency Square]], [[Volusia Mall]], and [[Orange Park Mall]] under the Maison Blanche nameplate. <ref>Foley's INTERVIEW Newsletter, Vol. 19, No. 6 January/February 2006</ref>

In 1993, May Company California and [[J.W. Robinson's]] merged to form [[Robinsons-May]]. In that same year, Filene's absorbed the G. Fox division, Kaufmann's absorbed the May Company Ohio division, and Foley's absorbed the May D&F division. In 1995, May acquired the [[Wanamaker's|John Wanamaker]] chain based in [[Philadelphia]]. In 1996, May acquires the [[Strawbridge's]] chain based in Philadelphia.<ref name="autogenerated1">[http://www.macysinc.com/company/his_6.asp The Drive to Differentiate - Macy's, Inc<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20080313040807/http://www.macysinc.com/company/his_6.asp |date=March 13, 2008 }}</ref> In 1998, May acquired [[The Jones Store]] chain based in [[Kansas City, Missouri]].<ref name="autogenerated1" /> In 1999, May acquired [[Zions Cooperative Mercantile Institution]] based in [[Salt Lake City]], folding it into the Meier & Frank subsidiary.<ref name="autogenerated1" />

In 2000, May Department Stores purchases [[David's Bridal]].<ref name="autogenerated32">[http://www.prnewswire.com/news-releases/the-may-department-stores-company-to-acquire-davids-bridal-inc-72175807.html |title=32 The May Department Stores Company to Acquire David's Bridal, Inc. |website= PR Newswire |date= July 3, 2000] {{webarchive |url=https://web.archive.org/web/20161026004151/http://www.prnewswire.com/news-releases/the-may-department-stores-company-to-acquire-davids-bridal-inc-72175807.html |date=October 26, 2016 }}</ref> In 2001, Meier & Frank absorbed the ZCMI name, entering the Utah marketplace. In that same year, Hecht's acquired five [[Proffitt's]] stores in Nashville TN, entering the Nashville marketplace. In 2002, Meier & Frank operations consolidated with the Robinsons-May division while Kaufmann's operations consolidated with the Filene's division, yet both retaining the Meier & Frank and Kaufmann's names. In 2004, May Department Stores took over the [[Marshall Field's]] chain from [[Target Corporation]].<ref name="autogenerated3">[http://www.macysinc.com/company/his_7.asp The Drive to Differentiate - Macy's, Inc.<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20080112091932/http://www.macysinc.com/company/his_7.asp |date=January 12, 2008 }}</ref>

== Acquisition of May by Federated ==
{{main|Acquisition of The May Department Stores Company by Federated Department Stores}}
On February 28, 2005, [[Macy's, Inc|Federated Department Stores]], Inc., announced that they would acquire the May company for $11 billion (~${{Format price|{{Inflation|index=US-GDP|value=11000000000|start_year=2005}}}} in {{Inflation/year|US-GDP}}) in stock.<ref>{{Cite news|url=https://www.wsj.com/articles/SB110954537749165299|title=Federated Agrees To Acquire May In $11 Billion Deal|last=Byron|first=Ellen|newspaper=WSJ |date=28 February 2005|access-date=22 August 2018}}</ref><ref>{{cite news |url=https://query.nytimes.com/gst/fullpage.html?res=9A06EFD9153DF93BA15751C0A9639C8B63 |title=2 Big Retailers Agree To Merge For $11 Billion |newspaper=[[New York Times]] |date=February 28, 2005 |first1=Andrew Ross |last1=Sorkin |first2=Tracie |last2=Rozhon}}</ref> To help finance the May Company deal, Federated agreed to sell its combined proprietary credit card business to [[Citigroup]].<ref>{{Cite news|url=https://www.chicagotribune.com/2005/06/03/department-store-credit-business-sold-to-citigroup/|title=Department store credit business sold to Citigroup|work=tribunedigital-chicagotribune|access-date=2018-08-22|language=en}}</ref> The merger was completed on August 30, 2005<ref>{{Cite news|url=https://www.ftc.gov/news-events/press-releases/2005/08/ftc-issues-statement-closure-federatedmay-investigation|title=FTC Issues Statement on Closure of Federated/May Investigation|date=2005-08-30|work=Federal Trade Commission|access-date=2018-08-22|language=en}}</ref> after an assurance agreement was reached with the State Attorneys General of [[New York State|New York]], [[California]], [[Massachusetts]], [[Maryland]] and [[Pennsylvania]].<ref>{{Cite news|url=https://www.nytimes.com/2005/02/28/business/2-big-retailers-agree-to-merge-for-about-11-billion.html|title=2 Big Retailers Agree to Merge for About $11 Billion|last1=Sorkin|first1=Andrew Ross|date=2005-02-28|work=The New York Times|access-date=2018-12-07|last2=Rozhon|first2=Tracie|language=en-US|issn=0362-4331}}</ref>

By September 2006, all of the May regional nameplates, except for the Lord & Taylor chain, ceased to exist as Federated consolidated its operations under the [[Macy's]] mastheads including the most famous store names [[Marshall Field's]], [[Filene's]], and [[Kaufmann's]], as well as the last nameplate to still have the May name ([[Robinsons-May]]). All locations that were not sold off were rebranded as Macy's, except for one [[Hecht's]] location in [[Friendship Heights]]. That was rebuilt and rebranded as [[Bloomingdale's]]. In advance of the retail consolidation, May's credit call center in [[Lorain, Ohio]], ceased operations on July 1, 2006. [[Lord & Taylor]], the lone department store division not to be largely converted to the Macy's nameplate, was sold to a group of investors at NRDC Equity Partners, LLC for $1.2 billion (~${{Format price|{{Inflation|index=US-GDP|value=1200000000|start_year=2006}}}} in {{Inflation/year|US-GDP}}) in October 2006.<ref>{{Cite news|url=https://www.reuters.com/article/us-hudsonsbay-lord-taylor-exclusive-idUSKBN1I91RK|title=Exclusive: Hudson's Bay seeks to revive Lord & Taylor's fortunes|date=2018-05-08|work=Reuters|access-date=2019-04-19|language=en}}</ref> David's Bridal and [[MW Tux|After Hours Formalwear]] were sold in November 2006.<ref>{{Cite news|url=https://www.latimes.com/archives/la-xpm-2006-nov-18-fi-bridal18-story.html|title=David's Bridal ties knot in a $750-million deal|date=2006-11-18|work=Los Angeles Times|access-date=2019-04-19|language=en-US|issn=0458-3035}}</ref>

== May Centers ==
{{Main|CenterMark Properties}}

Around the beginning of the twentieth century, the May Department Stores Company created a real estate division that handled the purchase of land and the construction of the buildings that would house their new stand-alone department stores. Starting in 1947, when they wanted to open a new store for their May Company California division, May entered the new open-air shopping center development business with the construction of what would later become the [[Baldwin Hills Crenshaw Plaza]] in Los Angeles.<ref name=lat-1992apr23>{{cite news |url=https://www.latimes.com/archives/la-xpm-1992-04-23-mn-1320-story.html |title=David May II; Scion Helped Family Store Chain Grow |newspaper=[[Los Angeles Times]] |date=April 23, 1992 |first=Burt A. |last=Folkart}}</ref> After that time, May became a major shopping center, and later mall developer when they began to develop new malls to house their newly proposed department stores.

During the mid-1980s, the company noticed that their stock was vastly undervalued and therefore was at risk of becoming a hostile takeover target.<ref name=nyt-1984jul20>{{cite news |url=https://www.nytimes.com/1984/07/20/business/market-place-may-stores-as-a-target.html |title=May Stores As A Target |newspaper=[[New York Times]] |date=July 20, 1984 |first=Isadore |last=Barmash}}</ref><ref name=nyt-1985feb02>{{cite news |url=https://www.nytimes.com/1985/02/02/business/company-may-stores-stock-purchased-may-department-stores-company-which-has-been.html |title=May Stores Stock Purchased The May Department Stores Company, which has been a rumored takeover target, said the Crown Books Corporation and certain affiliates had purchased fewer than 1% of May's common shares. James Abrams, vice president for corporate communications, said ''We don't know of any interest by Crown to purchase more of May's shares.'' |newspaper=[[New York Times]] |date=February 2, 1985 |author=<!--Staff writer(s); no by-line.-->}}</ref> May Department Stores needed to re-purchase some of its company's stock to increase the share price. To accomplish this, they needed to obtain cash quickly, which they did by making a deal with [[Prudential Insurance]] in which the insurance company gave May $550 million in exchange for 50% ownership of May Centers.<ref name=lat-1988aug18>{{cite news |url=https://www.latimes.com/archives/la-xpm-1988-08-18-fi-731-story.html |title=$550-Million Deal to Help May Stores Fend Off Takeovers |newspaper=[[Los Angeles Times]] |date=August 18, 1988 |first=Bruce |last=Keppel}}</ref><ref name=lat-1992aug04>{{cite news |url=https://www.latimes.com/archives/la-xpm-1992-08-04-fi-5145-story.html |title=Making Over Topanga Plaza : Retail: The successful Woodland Hills center undergoes a $45-million renovation now rather than suffer a possible dip in sales. |newspaper=[[Los Angeles Times]] |date=August 4, 1992 |first=Patrice |last=Apodaca}}</ref> In 1992, Prudential purchased the rest of May Centers and renamed the company CenterMark.<ref name=lat-1992aug04 /><ref>{{cite news |url=https://news.google.com/newspapers?nid=1893&dat=19920503&id=zsMfAAAAIBAJ&sjid=gNgEAAAAIBAJ&pg=1734,349088 |newspaper=[[Southeast Missourian]] |title=May Centers now called CenterMark |date=May 3, 1992 |page=1D}}</ref>

==References==

{{reflist|30em}}

==External links==
{{Commons category|May Department Store}}
* [https://web.archive.org/web/*/http://www.maycompany.com/ May Company] (archived)
*{{cite book|title=Baltimore's Bygone Department Stores: Many Happy Returns|url=https://books.google.com/books?id=8I92CQAAQBAJ&pg=PT|year=2012|publisher=The History Press|isbn=978-1-60949-667-8}}

{{MacysInc}}
{{Macy's history}}
{{Marshall Field's history}}
{{Hecht's history}}

{{DEFAULTSORT:May Department Stores Company}}
[[Category:Retail companies established in 1877]]
[[Category:American companies established in 1877]]
[[Category:Clothing retailers of the United States]]
[[Category:Defunct department stores based in Missouri]]
[[Category:Companies based in Colorado]]
[[Category:Lake County, Colorado]]
[[Category:Macy's, Inc.]]
[[Category:Companies based in St. Louis]]
[[Category:Retail companies disestablished in 2005]]
[[Category:Defunct companies based in Missouri]]
[[Category:1877 establishments in Colorado]]
[[Category:May Department Stores]]
[[Category:2005 mergers and acquisitions]]
[[Category:Companies formerly listed on the New York Stock Exchange]]