New acquisition by Belk

[AlabamaGuy2007]

I think that the expansion is the whole reason behind the suit, but it just erks me that the owner has suggested the suit based on the premises of Belk's not living up to "First Class".

It's Nuts I tell ya ....

BTW, sorry bout Bama

I am a graduate of the University and HUGE fan, but these last couple of weeks have been torture.

A2

Yea, I'm sorry too. So close to winning against Fla. Hopefully, the whole six years I'm at Bama, we'll get a national chamionship.

If it was just a coinsidence, they picked a bad time to sue. Truely, I'm embarrassed that if it wasn't a coinsidence that they're trying to sue someone because they aren't of the best quality. It's big discrimination.

[MurfRez]

There is a Summit out west anchored by Dillard's. If that doesn't make this suit pointless, I don't know what does.

Some of the Parisian stores did indeed fill the void between a mid range department store and say a Nordstrom, but many didn't. The same with Belk. Macy's and Dillard's as well.

Belk is going to go after the demographic that shops the local store. They aren't going to put the same merchandise in Florence or Decatur that they will in Summit. They would be stupid to lose the business of those customers when they have the proven ability to market to them(SouthPark). They are also retaining some of Parisian's best people to improve on Ladies' shoes and clothing.

Birmingham held on to its locally named store longer than most cities did. It's just a sign of the times. Like it or not, Dillard's, Macy's, and Belk are simply the names weathering the consolidation of the middle range department store industry.

[AlabamaGuy2007]

Birmingham held on to its locally named store longer than most cities did. It's just a sign of the times. Like it or not, Dillard's, Macy's, and Belk are simply the names weathering the consolidation of the middle range department store industry.

Well, Saks has long been trying to downsize so that they can focus just on their Saks Fifth Avenue. Well, that's pretty much happened. They're also moving headquarters to New York. Great, now Alabama only has what, 1 Fortune 500 company now. At least it's gonna be huge. Nothing compared to Charlotte, but, big none-the-less.

[DigitalSky]

It's ironic in that sense considering Saks made the sale [of Parisian] to Belk.

[kayman]

Well, Saks has long been trying to downsize so that they can focus just on their Saks Fifth Avenue. Well, that's pretty much happened. They're also moving headquarters to New York. Great, now Alabama only has what, 1 Fortune 500 company now. At least it's gonna be huge. Nothing compared to Charlotte, but, big none-the-less.

I wouldn't be too worried about that, they will be more Fortune 500s based back in the state before the end of the decade. Birmingham has seems to have a way of creating it own rather than stealing them from other cities like some (even if they are in their own state). Charlotte is a nice place but do yourselves as well as everybody a favor and build more home-base operations rather than luring them from other cities. I find that tactic very tacky.

[kayman]

They're gettin a lot of new high end retailers. They've been holding off on leasing space so that they can get the good stores. Lately, they've been really, oddly, picky. They won't let anyone lease who isn't "good enough." I think the problem with Summit, more lies in pride. They're rather have their Birmingham based store than an out of towner.

They have been come very picky, and I mean very. They have forced a lot of middle-range retailers out. I've also heard that once the others like Bruno's and many others leases expire that they will not be renewed.

[turbocraig]

I wouldn't be too worried about that, they will be more Fortune 500s based back in the state before the end of the decade. Birmingham has seems to have a way of creating it own rather than stealing them from other cities like some (even if they are in their own state). Charlotte is a nice place but do yourselves as well as everybody a favor and build more home-base operations rather than luring them from other cities. I find that tactic very tacky.

Are these some examples of the "tacky" predatorial business practices of which you speak?

http://www.fool.com/features/1998/sp980706...ffittmerger.htm

http://sec.edgar-online.com/1998/07/08/14/...27/Section7.asp

http://investors.compassbank.com/phoenix.z...rgeracquisition

M&A is, and has always been, standard practice for as long as there's been a business next door to buy. Was it somehow less tacky when B'ham was on the buying end? Or maybe you could show us some posts of yours back when a B'ham corporation bought one in another city, denouncing B'ham for raping and pilaging? Then the argument might be a little more believable.

[rockhilljames]

I wouldn't be too worried about that, they will be more Fortune 500s based back in the state before the end of the decade. Birmingham has seems to have a way of creating it own rather than stealing them from other cities like some (even if they are in their own state). Charlotte is a nice place but do yourselves as well as everybody a favor and build more home-base operations rather than luring them from other cities. I find that tactic very tacky.

Leonard, go grocery shopping...your grapes have gotten sour.

BofA, Wachovia, Family Dollar, Sonic Automotive, Nucor and Duke Energy ARE all home-grown companies. Some have acquired other companies along the way, and some have gone through name changes, but only Goodrich, Lowe's, and SPX have actually relocated here.

Ease-up dude....

[Alababy]

I have not been able to find independent confirmation, but "word" came from local (AL) regional level that the suit by Bayer was dropped 2 days after it was publicly announced. However, that would have been about the same time the News got together its big spread, and perhaps didn't want to look odd reporting the next days it had been dropped. It does not seem to have been mentioned in the local news at all.

[mallguy]

After all this, today's headline:

Belk selling 12 Parisian stores

That's over 25% of the chain, including stores in Columbia and Charleston.

[rockhilljames]

Not surprising.

I've said all along that Belk didn't want the whole chain, just specific stores. They got the whole chain for a low price and are now making money selling the locations they never wanted in the first place.

Score.

[DigitalSky]

Well the Charleston and Columbia stores are at malls where Belk is already present.

And Indiana, Ohio, and Michigan, as RockHillJames mentioned, aren't in the Belk footprint.

[mallguy]

I have never shopped at a Bon-Ton but I don't think its as upscale as Parisian. Goodness- L&T could have moved into the Midwest Parisian markets if L&T were still in expansion mode.

[turbocraig]

^It's not. I remember Bon-Ton when I was growing up in NY and it's more like JCPenney or Peeble's than anything else.

[gs3]

Tim Belk did say that, as I'm quite sure of my source who was with him at the function. However, he didn't state it to say he wanted the brand or prestige of Parisian (which my post didn't say). He simply wants to own them for the real estate. The real estate in Alabama, GA and TN would give Belk the depth of stores they need in these states.

No he doesn't want Indy or Rochester Hills or Cincy and why would he?

[turbocraig]

Hmm... If you pull up Bon-Ton's store locator map and do the same for Belk, one leaves off where the other begins. Both have been in expansion mode lately, but Belk being the larger of the two, I'd say Belk buys BT. Dillard's remains on the sidelines.

[StevenRocks]

Belk and Bon-Ton...that'd work.

Who do you think will take the surplus Southeastern stores?

[turbocraig]

^You mean the 12 that Belk is now selling to Bon-Ton? I'm not really sure. Bon-Ton and Boscov's are already in both of the same (mainly northeastern) markets, so maybe it'd stand to reason that what's good enough for B-T should be good enough for Boscov's as far as locations go. Is Boscov's part of any bigger corporation? I don't know if they'd be a good fit or not, I just can't think of anyone else at the moment.

[mallguy]

^It's not. I remember Bon-Ton when I was growing up in NY and it's more like JCPenney or Peeble's than anything else.

[DigitalSky]

The next big thing (more than a year away)......look for a merger between two of the three privately owned....Belk, Dillards, Bon-Ton..........two of the three will merge to better go head to head with Macy's, can't say which two, but talk is going on now and overtures are being made now.

[Alababy]

Already working on another merger? Wow, they don't ever rest, do they? Perhaps the new sales slogan ought to be changed from "It's all for you," to "All your stores are belong to us."

[DigitalSky]

Already working on another merger? Wow, they don't ever rest, do they? Perhaps the new sales slogan ought to be changed from "It's all for you," to "All your stores are belong to us."

[MurfRez]

^It's not. I remember Bon-Ton when I was growing up in NY and it's more like JCPenney or Peeble's than anything else.

[turbocraig]

Wouldn't Belk have final say on what happens to the Parisian name since they bought it? I'm guessing that names a gonner with this deal.

[rockhilljames]

I'm not sure if Belk cares whether the name lives on or not. I'm also not sure if Bon Ton would want the admin hassle of keeping just 5 stores branded with Parisian.