Von Maur evaluating Bon-Ton sites

Upscale retailer has done well in Milwaukee area; company is ‘methodical’ in choosing new locations

High-end department store chain Von Maur is evaluating soon-to-be-vacant Bon-Ton Stores Inc. sites as possible locations for expansion.

Melody Wright, chief operating officer of the family owned chain, said in an interview Thursday that Wisconsin is among states where Von Maur is looking at Bon-Ton properties.

“I think you can say as a retailer we are looking at Bon-Ton locations to see what’s right for us. Wisconsin as a state is certainly included in the list of all of the metro markets that are being evaluated,” she said.

The Davenport, Iowa-based retailer opened its first Wisconsin store in 2017 as the anchor of the new retail-residential development The Corners of Brookfield.

By the middle of next week, all Boston Store locations in metro Milwaukee — including Boston Store anchors at Bayshore Town Center, Brookfield Square, Mayfair, Southridge Mall and the Grand Avenue mall — are expected to be closed permanently. Bon-Ton was purchased in a bankruptcy auction in April and has been in a liquidation sale ever since.

“Everything is kind of on the table for us with Bon-Ton’s demise,” Wright said.

“We are always are open to expansion. We’ve remained healthy from a business perspective, so we’re evaluating Bon-Ton locations as they come up and determining what are the right ones for us, what is the right fit,” Wright said.

Although the Von Maur at The Corners of Brookfield is a stand-alone store, many of its 32 stores in 15 states are an-

“I think as Bon-Ton has been winding down their business, in the markets where we compete with them, we have certainly seen that customer find us and start a new shopping pattern with Von Maur.”

Melody Wright

Von Mauer CEO

chors of malls.

Von Maur’s plans have to be in sync with overall plans for a mall that is losing a Bon-Ton anchor, Wright said.

“As you know sometimes they choose to convert to small shops or restaurants or other options,” Wright said. “So it’s making sure we’re identifying what those locations are seeing — if the stars can all align with what the developers want, what the mall owners want, and what we’re really looking for.”

She added: “Milwaukee obviously has been a good market for us. It took us a long number of years to finally get into that market.”

Von Maur opened its $30 million, 150,000 squarefoot-store at The Corners of Brookfield in the spring of 2017. Wright said it’s been a success.

“Our location at The Corners has been really, really strong for us. Our merchandise mix has been a good match for the Milwaukee area, so it has exceeded our expectations,” she said. “Particularly for being just a little over a year old, it’s been doing really well.”

Asked whether Von Maur already has some deals in the works to take over space from Bon-Ton stores, which were located in 23 states, Wright said: “We have no announcements at this time.”

The Journal Sentinel has reported that Dillard’s Inc., a Little Rock, Ark.-based department store chain, is considering opening stores at what are now Boston Store buildings at Brookfield Square, Mayfair and Southridge Mall, as well as a Younkers store building near Green Bay. Dillard’s has no stores in Wisconsin.

Retail industry consultant Dick Seesel said the Boston Store space at Bayshore might be a good fit for Von Maur.

“It gets them onto a completely different side of town,” said Seesel, owner of Mequon-based Retailing in Focus.

Wright said Von Maur, which offers special perks like an interest-free credit card and free gift wrapping, already is attracting new customers who once shopped Bon-Ton.

“I think as Bon-Ton has been winding down their business, in the markets where we compete with them, we have certainly seen that customer find us and start a new shopping pattern with Von Maur,” she said.

Wright said Von Maur, which as a family-owned company doesn’t face pressure from Wall Street to meet quarterly earnings expectations, is “very methodical” in considering spots for new stores.

“In the retail climate as it exists today we’re clearly one of the few retailers that is opening new stores,” she said. “So right now there is kind of an avalanche of opportunities that we have to look at.”

Wright said Von Maur executives are “doing what’s best for the business long term, but also not getting too aggressive and not overextending.”

“I think that’s where retailers, that’s what got them into trouble today is because they overextended in the earlier years a decade or more ago,” Wright said. “We’re always cautious to not do that. And that means our process is a little bit slower in terms of our store selections at any given time. But were excited about the opportunities that are sitting in front of us right now.”