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Posted 01 Apr 2001   For week ended March 30, 2001
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Sent on Mormon-News: 30Mar01

By Kent Larsen

ZCMI Stores Broken Up

LITTLE ROCK, ARKANSAS -- Not all former ZCMI stores will carry the Meier and Frank name, as an announcement Wednesday made clear. Arkansas-based Dillards, Inc., announced then that it had reached an agreement to purchase four former ZCMI stores in Utah and Idaho from May Department Stores, the corporate parent of Meier and Frank. May purchased the ZCMI chain from the LDS Church in December 1999.

The sale, confirmed by May, concentrates the Meier and Frank ZCMI stores along the Wasatch Front while giving Dillards stores in a region where the chain says it enjoys strong sales. Dillards had tried in past years to buy ZCMI several times, but the LDS Church wasn't interested in selling at that point.

May spokeswoman Sharon Bateman said that the stores were too far away to be efficiently served. "These were quite a distance from our core group of stores in the Salt Lake City metro area," she said. The four stores sold to Dillards are located in St. George, Utah, Logan, Utah, Pocatello, Idaho and Idaho Falls, Idaho.

Dillards plans to complete the acquisition of the stores on April 18th and change the stores' names on the same day. Meier and Frank had already announced that it would change the name of its stores on that day. Meier and Frank will also begin a $60 million renovation of 5 of its remaining stores. May remains with eight of the ZCMI stores in Utah and one in Arizona.


Dillard's Buys Four ZCMI Retail Outlets
Salt Lake Tribune 29Mar01 B4
By Steven Oberbeck and Phil Sahm: Salt Lake Tribune

Little Rock, Ark.-Based Department Store Chain To Buy Retailer
Ogden UT Standard-Examiner 29Mar01 B4
By Gary Hinds: Standard-Examiner

Dillard's to buy Logan ZCMI store
Logan UT Herald Journal 29Mar01 B4


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