Miket61

Macy's Insecure Covenants: The Goodwill Trap

Macy's goodwill is not only impaired from an accounting perspective, but its goodwill with consumers is impaired in cities where they took over May Company stores. They changed the name, the management, the merchandise, and the sales staff, all for the worse. Marshall Field's would have been much more valuable if it were left as a separate division, instead of being downgraded to a Macy's. Once a major tourist draw for the Chicago area, now it's the same stuff one can buy anywhere in the country, just in a nicer building.