Macy's Vows to Revive Chicago Flagship

Macy's is changing course to revive Chicago's former Marshall Field's, a downtown fixture that was struggling when Macy's took over last year and has only done worse since, the Chicago Tribune reports. The solution? A $10-million, three-year plan to draw new shoppers into a 139-year-old institution they may have considered stuffy or overpriced.

Retailing veteran Frank Guzzetta, who oversees 62 Macy's stores, will keep traditions such as Marshall's famed holiday window displays. But he's creating submarkets within the store—everything from an FAO Schwarz to a wine bar—to attract young adults, tourists, and suburban moms. "It's worth the financial investment because we realize how much business we can do in this building," he said. (More Chicago stories.)