Bullock's
Encyclopedia
Bullock's was a department store
based in Los Angeles, California
. The company operated full-line department stores all across California, with some stores in Arizona and Nevada. Bullock's also operated the more upscale Bullocks Wilshire
in parts of Southern California.
owner Arthur Letts
. In 1923, Bullock and business partner P.G. Winnett bought out Letts' interest after his death and the companies became completely separated. In 1929 Bullock & Winnett opened a luxury branch on Wilshire Boulevard
, named, appropriately enough Bullock's Wilshire.
In 1944 Bullock's acquired I. Magnin & Co.
, a venerable, San Francisco
-based upscale specialty chain. This was followed by the acquisition of the then public-owned Bullock's/I. Magnin organization in 1964 by Federated Department Stores
, much to the dismay of surviving founder P.G. Winnett, who publicly lambasted the deal (which was initiated by his own son-in-law, Bullock's President Walter W. Candy Jr.). In the 1970s, to differentiate itself from the full-line Bullock's stores, the very exclusive Wilshire location dropped its apostrophe, became Bullocks Wilshire, and began its own expansion.
Bullock's, Bullocks Wilshire, and I. Magnin retained their autonomy under Federated, as well as their carriage-trade niche, with I. Magnin expanding into the Chicago and Washington, D.C.
metropolitan areas and Bullock's opening stores in Phoenix
, Las Vegas
and Northern California
. In 1983 however, Federated shuttered the Bullock's North division and sold most of its locations to a Seattle, Washington upstart: Nordstrom
. In 1988, after an ugly takeover battle between Robert Campeau
and Macy's
for Federated, Bullock's and I. Magnin were sold by Campeau to Macy's as a consolation prize for one billion dollars, which plunged Macy's into debt. The new owners responded by dismantling Bullock's Los Angeles corporate offices, merging Bullocks Wilshire into I. Magnin, and Bullock's into its Macy's South division, thus sending what had been Federated's most profitable division into a precipitous decline and alienating the local customers.
The end came quickly for Bullock's after Macy's filed for bankruptcy protection in 1992, with the Bullocks Wilshire stores being renamed I. Magnin two years before. I. Magnin and Bullock's were pruned of their underperforming branches, and I. Magnin itself was dissolved in January 1995 once Federated Department Stores
reappeared on the scene and acquired Macy's
. In 1996—following the acquisition of Broadway Stores, Inc.—Federated consolidated all its traditional department-store business in California under the Macy's nameplate, ending 89 years of Bullock's.
, Jean-Paul Gaultier
, Missoni
, Krizia, Valentino
, Salvatore Ferragamo
, Byblos, Hugo Boss
and Gieves & Hawkes. Under Federated, the 22 Bullock's stores offered consistent assortments in each location, a key to the company's profit and success (exceptions were the Lakewood
, West Covina
, Carlsbad
and Grossmont, CA locations.) Under the corporate oversight of Macy's South in Atlanta, the 22 Bullock's stores were divided into 3 competing regions: merchant offices with extremely limited control were established in Santa Ana, Sherman Oaks and the existing 800 S.Hope Street building. Macy's, now under tremendous debt, national economic issues and having alienated customers with swift and usually reactive changes to the Bullock's brand, focused and relied on South Coast Plaza, Sherman Oaks and Beverly Center to retain an upscale clientele.
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
based in Los Angeles, California
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
. The company operated full-line department stores all across California, with some stores in Arizona and Nevada. Bullock's also operated the more upscale Bullocks Wilshire
Bullocks Wilshire
Bullocks Wilshire, located at 3050 Wilshire Boulevard in Los Angeles, California, is a 230,000-square foot Art Deco building.-Design:...
in parts of Southern California.
History
Bullock's was founded in 1907 at Seventh & Broadway in downtown Los Angeles by John G. Bullock, with the support of The Broadway Department StoreThe Broadway
The Broadway was a mid-level department store chain headquartered in Los Angeles, California, United States of America. Founded in 1896 by English born Arthur Letts, Sr., who later went on to develop Holmby Hills, The Broadway became one of the dominant retailers in Southern California and the...
owner Arthur Letts
Arthur Letts
Arthur Letts, Sr. was the underfunded immigrant from England who made his name, fortune, and mark in Los Angeles, California in the early years of the 20th century...
. In 1923, Bullock and business partner P.G. Winnett bought out Letts' interest after his death and the companies became completely separated. In 1929 Bullock & Winnett opened a luxury branch on Wilshire Boulevard
Wilshire Boulevard
Wilshire Boulevard is one of the principal east-west arterial roads in Los Angeles, California, United States. It was named for Henry Gaylord Wilshire , an Ohio native who made and lost fortunes in real estate, farming, and gold mining. Henry Wilshire initiated what was to become Wilshire...
, named, appropriately enough Bullock's Wilshire.
In 1944 Bullock's acquired I. Magnin & Co.
I. Magnin
I. Magnin & Company was a San Francisco, California-based high fashion and specialty goods luxury department store. Over the course of its existence, it expanded across the West into Southern California and the adjoining states of Arizona, Oregon, and Washington...
, a venerable, San Francisco
San Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
-based upscale specialty chain. This was followed by the acquisition of the then public-owned Bullock's/I. Magnin organization in 1964 by Federated Department Stores
Federated Department Stores
Macy's, Inc. is a department store holding company and owner of Macy's and Bloomingdale's department stores. Macy's Inc.'s stores specialize mostly in retail clothing, jewelery, watches, dinnerware, and furniture....
, much to the dismay of surviving founder P.G. Winnett, who publicly lambasted the deal (which was initiated by his own son-in-law, Bullock's President Walter W. Candy Jr.). In the 1970s, to differentiate itself from the full-line Bullock's stores, the very exclusive Wilshire location dropped its apostrophe, became Bullocks Wilshire, and began its own expansion.
Bullock's, Bullocks Wilshire, and I. Magnin retained their autonomy under Federated, as well as their carriage-trade niche, with I. Magnin expanding into the Chicago and Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
metropolitan areas and Bullock's opening stores in Phoenix
Phoenix, Arizona
Phoenix is the capital, and largest city, of the U.S. state of Arizona, as well as the sixth most populated city in the United States. Phoenix is home to 1,445,632 people according to the official 2010 U.S. Census Bureau data...
, Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
and Northern California
Northern California
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...
. In 1983 however, Federated shuttered the Bullock's North division and sold most of its locations to a Seattle, Washington upstart: Nordstrom
Nordstrom
Nordstrom, Inc. is an upscale department store chain in the United States, founded by John W. Nordstrom and Carl F. Wallin. Initially a shoe retailer, the company today also sells clothing, accessories, handbags, jewelry, cosmetics, fragrances, and in some locations, home furnishings...
. In 1988, after an ugly takeover battle between Robert Campeau
Robert Campeau
Robert Campeau is a Canadian financier and real estate developer.-Early years:His formal education ended in grade eight, at the age of 14. He talked himself into jobs at Inco as a general labourer, carpenter and machinist. In 1949 he entered the residential end of the construction business...
and Macy's
Macy's
Macy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
for Federated, Bullock's and I. Magnin were sold by Campeau to Macy's as a consolation prize for one billion dollars, which plunged Macy's into debt. The new owners responded by dismantling Bullock's Los Angeles corporate offices, merging Bullocks Wilshire into I. Magnin, and Bullock's into its Macy's South division, thus sending what had been Federated's most profitable division into a precipitous decline and alienating the local customers.
The end came quickly for Bullock's after Macy's filed for bankruptcy protection in 1992, with the Bullocks Wilshire stores being renamed I. Magnin two years before. I. Magnin and Bullock's were pruned of their underperforming branches, and I. Magnin itself was dissolved in January 1995 once Federated Department Stores
Federated Department Stores
Macy's, Inc. is a department store holding company and owner of Macy's and Bloomingdale's department stores. Macy's Inc.'s stores specialize mostly in retail clothing, jewelery, watches, dinnerware, and furniture....
reappeared on the scene and acquired Macy's
Macy's
Macy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
. In 1996—following the acquisition of Broadway Stores, Inc.—Federated consolidated all its traditional department-store business in California under the Macy's nameplate, ending 89 years of Bullock's.
Luxury market
Although the Bullocks Wilshire stores was deemed the most exclusive, the full-line Bullock's stores offered upscale designers such as Giorgio ArmaniGiorgio Armani
Giorgio Armani is an Italian fashion designer, particularly noted for his menswear. He is known today for his clean, tailored lines. He formed his company, Armani, in 1975, and by 2001 was acclaimed as the most successful designer to come out of Italy, with an annual turnover of $1.6 billion and a...
, Jean-Paul Gaultier
Jean-Paul Gaultier
Jean Paul Gaultier , born 24 April 1952 in Arcueil, Val-de-Marne, France) is a French haute couture fashion designer. Gaultier was the creative director of Hermès from 2003 to 2010. In the past, he has hosted the television series Eurotrash....
, Missoni
Missoni
Missoni is an Italian fashion house based in Varese. It is famous for its unique knitwear, made from a variety of fabrics in colourful patterns. The company was founded by Ottavio and Rosita Missoni in 1953.-Brands:...
, Krizia, Valentino
Valentino SpA
Valentino SpA is a clothing company founded in 1959 by Valentino Garavani. Nowadays it is a part of Valentino Fashion Group. New creative directors Maria Grazia Chiuri and Pier Paolo Piccioli will take Alessandra Facchinetti's seat as creative designer...
, Salvatore Ferragamo
Salvatore Ferragamo
Salvatore Ferragamo was a Florentine and Italian shoe designer. He worked with many Hollywood stars in the 1920s, before returning to Italy to found the eponymous company making unique hand-made footwear. His scientific and creative approach to shoes spawned many innovations such as the wedge heel...
, Byblos, Hugo Boss
Hugo Boss
Hugo Ferdinand Boss was the founder of clothing company Hugo Boss.-Early life:Boss was born in Metzingen, Germany. After completing his apprenticeship and one year of employment, he founded his own company in Metzingen in 1923.-Support of Nazism:Boss joined the Nazi Party in 1931, two years before...
and Gieves & Hawkes. Under Federated, the 22 Bullock's stores offered consistent assortments in each location, a key to the company's profit and success (exceptions were the Lakewood
Lakewood, California
Lakewood is a city in Los Angeles County, California, United States. The population was 80,048 at the 2010 census. It is bordered by Long Beach on the west and south, Bellflower on the north, Cerritos on the northeast, Cypress on the east, and Hawaiian Gardens on the southeast. Major thoroughfares...
, West Covina
West Covina, California
West Covina is a city located in Los Angeles County, California. Located some east of Downtown Los Angeles in the eastern San Gabriel Valley, it is a mostly middle class suburb of Los Angeles...
, Carlsbad
Carlsbad, California
-2010:The 2010 United States Census reported that Carlsbad had a population of 105,328. The population density was 2,693.1 people per square mile . The racial makeup of Carlsbad was 87,205 White, 1,379 African American, 514 Native American, 7,460 Asian, 198 Pacific Islander, 4,189 from other...
and Grossmont, CA locations.) Under the corporate oversight of Macy's South in Atlanta, the 22 Bullock's stores were divided into 3 competing regions: merchant offices with extremely limited control were established in Santa Ana, Sherman Oaks and the existing 800 S.Hope Street building. Macy's, now under tremendous debt, national economic issues and having alienated customers with swift and usually reactive changes to the Bullock's brand, focused and relied on South Coast Plaza, Sherman Oaks and Beverly Center to retain an upscale clientele.