Macy's

Macy’s. No one would have thought the modest dry goods store opened in 1858 by Rowland Hussey Macy’s in New York would grow to be one of the largest, most popular department stores in the world. Today it is an omni-channel retail organization, operates stores, websites and mobile applications. The company sells a range of merchandise such as apparel and accessories for men, women and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022 it operated 725 department stores in the District of Columbia, Puerto Rico and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands. It also operates in Dubai, the United Arab Emirates, and Al Zahra, Kuwait under the license agreements. 

Rowland Hussey Macy opened four dry goods stores during 1843 — 1855. One of them was Macy's in Haverhill, Massachusetts. None of the stores did good business but he learnt from the mistakes and shifted to New York City in 1858, where he opened a store named "R.H. Macy and Co." with a star as the logo — inspired by a tattoo inked on him. By year-end, sales were reportedly $85,000. As the business grew, Macy's used in-store store Santa Claus, themed exhibitions and beautifully illuminated window displays to draw customers.

In 1875 Macy took on two partners, cousins Robert M. Valentine and Abiel T. La Forge. As business grew, R.H. Macy and Co. expanded into neighbouring buildings and by 1877 became a full-fledged department store. That year, Macy died. In the following years, La Forge and Valentine passed away. Ownership of the company remained in the family until 1895, when politician Isidor Straus and his brother Nathan acquired the store.

In 1902, the flagship moved to Herald Square. Over the years, Herald Square Macy's expanded to nearly occupy the block bordered by Seventh Avenue, Broadway, 34TH Street, and 35TH Street. There was one hurdle, a building belonging to Robert H. Smith. Undeterred by his refusal to sell, Macy's ignored his home and built around the store. Sadly, Isidor and his wife Ida passed away when the Titanic sunk. Herald Square Macy's became the largest store in the world and was added to National Register Of Historic Places. That year, ten thousand people showed up to watch Macy's Thanksgiving Day Parade®.

In 1929, Federated Department Stores Inc. — now renamed Macy's, Inc. — was formed as a holding company by a few family-owned department stores, including Abraham and Straus; Lazarus and its Cincinnati-based subsidiary, Shillito’s; and Filene's. Federated then acquired Bloomingdale's; Burdines; Dayton; Rike's; Goldsmith's. In 1994, Federated acquired debt-ridden Macy’s. With the acquisition of The May Department Stores Company in 2006, regional nameplates that were operating as a result of the frequent acquisitions and divestments, were retired and replaced by Macy's and Bloomingdale's. Subsequently, Federated was renamed Macy's Inc. in 2007.

On October 28, 2014 Macy's Inc. extended the lease-operation agreement with Al Tayer Group that took Macy's overseas to Abu Dhabi, anchoring a new mall with Bloomingdale's, which opened its second overseas store. Yet, no matter how successful Macy's has been, it could not withstand the retail apocalypse. From January 2015, Macy's closed several under-performing stores. The restructure, announced through a company release, was set to save the company an estimated $550 million a year, of which a portion was invested in e-commerce. 

"It is essential that we maintain a healthy portfolio of the right stores in the right places," Chairman and CEO Terry J Lundgren said. "Our plan to close approximately a hundred stores over the next few years is an important part of our strategy to help us right-size our physical footprint as we expand our digital reach. We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetising locations with highly valued real estate…" 

The company also announced the opening of small-format "Market by Macy's" locations and independent Macy's Backstage formats by end- 2020. In February 2020, Macy's announced that their headquarters in downtown Cincinnati will be closing in the near future with all corporate operations relocating to New York City. In November 2021, Macy's announced the launch of its digital marketplace, which was set to debut in the second half of 2022 in partnership with AlixPartners and Mirakl.

Macy's mission is to be a forward-thinking retailer, constantly identifying opportunities on the horizon and taking decisive steps to capitalize on them. This involves not only keeping a close eye on emerging trends and customer needs but also staying ahead of market shifts to remain competitive in a fast-paced retail landscape. Macy’s strives to evolve with changing consumer behaviors, ensuring that the shopping experience it provides aligns with the desires and expectations of its customers. By adopting this proactive approach, Macy’s aims to maintain its status as a leading retailer, adapting quickly to changes in both the retail industry and consumer demand.

At the core of Macy's mission is the integration of technology to enhance both operational efficiency and customer experience. The company understands the increasing role technology plays in modern retail, and it is moving faster than ever to implement digital solutions that streamline processes and improve customer engagement. By leveraging data, automation, and digital platforms, Macy’s seeks to deliver a seamless shopping experience that meets the evolving preferences of its tech-savvy customers. This focus on technological advancement allows Macy’s to personalize interactions, create a more convenient shopping experience, and remain relevant in an increasingly digital world.

Macy’s is also committed to concentrating its resources on elements most crucial to its core customers. By identifying what matters most to its customers—whether it be product quality, customer service, or an engaging in-store and online experience—Macy’s ensures that its efforts are aligned with the needs and expectations of its target audience. This customer-centric approach drives their business strategy, ensuring that every investment, innovation, and initiative enhances the value Macy's provides to its shoppers. In doing so, Macy’s continues to build strong relationships with its customers, ensuring loyalty and long-term success in the ever-evolving retail environment.

Macy's vision statement is to operate Macy's and Bloomingdale's as dynamic national brands while focusing on the customer offering in each store location. The largest retail brand of Macy's Inc. delivers quality fashion at affordable prices to customers at approximately 640 locations in 43 states, the District of Columbia, Puerto Rico and Guam as well as to customers in more than A hundred international destinations through e-commerce site: macys.com. 

Macy's inspires fashion exploration and discovery through the most desired family of exclusive brands for her, for him, for the home, and via its dynamic mobile and social platforms. The company knows the power of celebration, demonstrated through decades of memorable experiences created during Macy's 4th of July Fireworks and Macy's Thanksgiving Day Parade, as well as spectacular fashion shows, culinary events, flower shows and celebrity appearances. 

Macy’s is the only retailer to receive the National Medal of Arts, the nation’s highest award for artistic excellence awarded by the President of the United States. Macy's is also the only retailer to reach Fortune Magazine's list of the World’s Most Admired Companies eight consecutive times.

The largest retail brand of Macy's Inc. delivers quality fashion at affordable prices to customers at approximately 640 locations in 43 states, the District of Columbia, Puerto Rico and Guam as well as to customers in more than a hundred international destinations through e-commerce site: macys.com.

Macy's offers a wide range of products that cater to diverse customer needs, spanning fashion, beauty, home, and lifestyle categories. Its fashion offerings include clothing, footwear, and accessories for men, women, and children, featuring both private label and popular national brands. Macy's also excels in beauty, providing a curated selection of skincare, makeup, fragrances, and hair care products from top luxury and everyday brands. In addition, the retailer offers an extensive home department with products ranging from furniture and bedding to kitchenware and home decor, making it a one-stop destination for fashion and lifestyle essentials.

Beyond products, Macy's provides a range of services designed to enhance the customer shopping experience. These services include personal styling through its in-store and online personal shoppers, tailoring and alterations, and its comprehensive loyalty program, which rewards frequent shoppers with special discounts and perks. Macy's also offers convenient shopping options, such as buy-online-pickup-in-store (BOPIS) and curbside pickup, as well as a user-friendly mobile app and website for seamless online shopping. With a focus on blending convenience and a personalized touch, Macy’s services are tailored to meet the evolving needs of today’s consumers, both in-store and online.