P.M. BRIEFING : It’s Not I. Magnin’s Kind of Town
From Times Wire Services
CHICAGO —
Retailer I. Magnin, announcing the closing of its Oakbrook Center store in February, says it will end its 19-year stay in the Chicago area.
Brent McDaneld, a spokesman for the San Francisco-based chain, said the 134 employees at Oakbrook were told last Friday about the closing. He said talks were also under way to move out of I. Magnin’s locations at Northbrook Court and on North Michigan Avenue.
All three locations are in upscale shopping areas. I. Magnin’s market share has declined during the last 10 years due to recent additions, such as Bloomingdale’s and Neiman-Marcus and efforts by Marshall Field to attract more upscale clientele.
McDaneld said I. Magnin, a unit of R. H. Macy Co., will stick to the West Coast.
