Downtown Retains Flagship Dept. Store

Wondered what would happen to the Downtown Famous-Barr? We did.

Now we know:

Federated Department Stores chairman Terry Lundgren has informed Mayor Francis Slay that the company will keep the Downtown Famous-Barr store open and convert it to a Macy’s.

Competition from suburban shopping malls has shuttered many of the country’s downtown department stores over last 20 years, leaving cities like Baltimore, Cleveland, and Detroit without their retail flagships. So, Mayor Slay was concerned Federated might close the Downtown St. Louis store.

"Governor Matt Blunt and I have been working to convince Federated to keep the Downtown store open and rebrand and restructure it as a quality Macy’s. The call from Terry was very good news," Slay said. "With all the great things happening Downtown and the momentum building, we think a high quality Macy’s will do very well."

Besides keeping a store in Downtown St. Louis, the mayor’s top goal is to maintain as many of the May Company’s front office and creative jobs here as possible. Slay and Blunt have been and will continue to discuss how Federated’s divisional headquarters and regional corporate functions will be structured in St. Louis.

"We are showing Federated officials a City and a state from which they can direct other divisions of their national corporation, and a City and a state that can be Federated’s partners in success. This significant task is made easier by Downtown’s and the City’s renaissance and sharply improved business climate, as well as Missouri’s commitment to job retention and growth," Slay said.

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