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Cpusim 4.096/22/2023 Magnin paid a $50,000 fine and the case was closed earlier this year. Magnin do not always compete, the Justice Department charged in a complaint accusing the two chains of fixing the prices of women's clothing in Northern California. "We really think that we have two competitors nationally: Neiman-Marcus and Saks Fifth Avenue." "We carry more status merchandise than Bloomingdales, or almost anyone else, for that matter," said Anderson. In those cities, as in Washington, Magnin and its corporate cousins "complement each other more than compete," explained Anderson. The same consumer profperity and propensity to spend that brought Bloomingdales from New York to Washington - and White Flint - drew Magnin's from California, Magnin President Ross Anderson said in an interview last week.įederated's department store companies are "largely autonomous," the company says in reports to stockholders, and Anderson said it was Magnin officers rather than Federated executives who initiated construction in Washington of Magnin's 24th Store.įederated has two divisions in several West Coast markets, where there are Magnin and Bullock's stores. The Magnin store that opened Friday at the White Flint shopping mall is the vehicle that Federated Department Stores is counting on to expand its hsare of the Washington market.Ī $4.9 billion merchandising machine that earned $197 million profits last year, Federated is the parent of Magnin's, Bloomies and 16 other retail chains that operate 223 department stores, plus 100 supermarkets, a handful of discount stores and a hardgoods specialty chain. Magnin merchants, they intend to be all of those things - more expensive, more elitist, more upscale and "better" than their corporate cousins at Bloomingdales in the retailing sense of the word, where better means higher-priced. What? Better than Bloomingdales? More upscale than the department store that practically invented upscale merchandising? More elitist than the East Side of Manhattan? More expensive than the store that gets $4.50 a pound for chocolate chip cookies and $3 for ordinary cotton underpants with the store's nickname on the backside? And now, from the wonderful people who brought you Bloomingdales, comes a store for Washington consumers who want a little "better" place in which to shop - I.
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