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Article: Farrell begins his crusade to fix up ADG. (Associated Dry Goods Corp., David C. Farrell)
- Article from:
- WWD
- Article date:
- October 29, 1986
- Author:
CopyrightCOPYRIGHT 1986 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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Farrell begins his crusade to fix up ADG
NEW YORK (FNS) -- May Department Stores Co. plans to "fix" J.W. Robinson and Caldor, Inc., while improving the return on Lord & Taylor.
In his first meeting with securities analysts since acquiring Associated Dry Goods Corp. earlier this month, David C. Farrell, chairman and chief executive officer of May Co., said the company's major focus will be on those three divisions.
Farrell said Robinson's has "deep earnings problems" and he later conceded that it is losing money. Caldor is still making money, he said, but the discount division has been a poor performer. Lord & Taylor has been "reasonably well ...