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Dillard's chewing on Marshall Field's Stores?

Dillard's Chewing On Marshall Field's Stores?

Expansion hungry, and cash rich, $3-billion Dillard Department Stores may be about to take a little bite out of Chicago retailer Marshall Field's Texas stores. Marshall's was bought recently by Target Stores parent company, $13.6-billion Dayton Hudson, for the hefty price tag of $1.05 billion and word is out among some Dillard employees that Marshall's Lone Star stores could be next on Dillard's acquisition list.

Those employees say Marshall's has four stores that Dillard's is eyeing closely, some in the Dallas-Ft. Worth area, and they would complement Dillard's already strong Texas presence of 59 stores.

Dillard's has been on an expansion binge in the 1980s buying seven regional retail chains since 1984. The Dillard's formula for acquistion success is a simple one: cut out management fat, upgrade floor sales staff, sell name brand product lines and install state-of-the-art computer systems. So far, it's been unstoppable.

Interestingly, the deal will be deja vu for both partners. In September 1984, Dillard's took the Diamond's/Brown chain off Dayton Hudson's hands for the tidy sum of $143 million.
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Title Annotation:Dillard Department Stores continues expansion, may also buy Marshall Field's Stores
Publication:Arkansas Business
Date:Jul 30, 1990
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