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Article: Hess's exits retail, sells sites to May, Bon-Ton. (Hess's Department Stores, May Department Store Co.)(includes related article on Bon-Ton's shoe department focus)
- Article from:
- Footwear News
- Article date:
- August 8, 1994
- Author:
CopyrightCOPYRIGHT 1994 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York--Footwear vendors see the May Department Store Co.'s acquisition last week of 10 Hess's Department Store units, and The Bon-Ton Store's purchase of the retailer's remaining 20 stores, as a potential boon to business.
Last Monday Hess's Department Stores, Allentown, Pa., announced it would exit the retail business after 106 years, selling six Pennsylvania units and four New York stores to St. Louis-based May and its remaining 20 sites along with the Hess's name and a 325,000-square-foot distribution center to The Bon-Ton Stores, York, Pa. Both deals are expected to be finalized this fall.
A May spokesman said the retailer plans to spend $100 ...