DOWNSIDE: Can Penney's evolve the "It's all inside" campaign, developed at DDB, to a new level with Saatchi? And despite Mr. Boylson's ambition to make Penney's a lovemark, do shoppers really love department stores like they used to, especially as homegrown brands like Marshall Field's in Chicago have been replaced by national brands? Penney's operates in a tough competitive environment. And as Federated stakes out a national position with its Macy's brand, Mr. Boylson must continue to migrate the retailer's marketing culture from a promotional model to a branding model and make century-old Penney's middle America's lovemark.
AD BUDGET: $1.07 billion
* Publicis' Saatchi & Saatchi, N.Y.
* Omnicom's Dieste Harmel & Partners, Dallas; OMD, Chicago
* InterTrend Communications, Long Beach, Calif.