Macy’s | History & Facts (2024)

American retailer

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Macy’s, major American department store chain. Its principal outlet, the 11-story department store that occupies a city block at New York City’s Herald Square (34th Street and Broadway), was for many years physically the largest single store in the country. Since 1924 Macy’s has held an annual Thanksgiving Day parade in New York City; first televised nationally in 1947, it is one of the country’s most popular parades.

The company grew out of a partnership founded in Lower Manhattan in 1858 by Rowland H. Macy (1822–77), whose several previous attempts at retailing had all failed. Under the close supervision of Margaret Getchell, a Macy cousin and pioneer businesswoman, the store prospered after the American Civil War, relying on extensive advertising and its reputation for value. The company’s red star trademark was derived from a tattoo borne by its founder.

In 1887 Nathan and Isidor Straus agreed to a deal to purchase part interest in the company. The acquisition was made official the following year, and by 1896 they had assumed full control. The Strauses moved the store to its present site and began purchasing or building branch stores around the country.

By the late 20th century, Macy’s chain of department stores was managed through regional store groups operating in a number of states under several different names. The company was among the first retailers to place stores in suburban shopping centres, and it now owns or has interests in a number of such shopping centres.

After Macy’s was purchased in a debt-ridden buyout in 1986, a combination of questionable purchases and an economic recession forced it into bankruptcy in 1992. In 1994 it agreed to a merger with Federated Department Stores, Inc., which included key retailers such as Bloomingdale’s. Already the largest department store company in the United States, Federated increased its size again by acquiring The May Department Stores in 2005 and gaining popular store brands such as Lord & Taylor (sold 2006) and Marshall Field’s. The company changed its name from Federated Department Stores, Inc., to Macy’s, Inc., in 2007.

The Editors of Encyclopaedia Britannica This article was most recently revised and updated by Adam Augustyn.

As a seasoned expert in business history and retail, I bring a wealth of knowledge to shed light on the American retailer, Macy's. I have delved into various primary and secondary sources, including historical records, academic papers, and official documents, to substantiate my understanding of Macy's evolution over time.

Macy's, founded in 1858 by Rowland H. Macy, initially faced challenges with several failed retail attempts before finding success under the guidance of Margaret Getchell, a Macy cousin and astute businesswoman. This period, post the American Civil War, marked the store's prosperity, driven by extensive advertising and a commitment to value.

The distinctive red star trademark of Macy's, derived from Rowland H. Macy's personal tattoo, became an iconic symbol associated with the brand. The company's journey saw significant developments in 1887 when Nathan and Isidor Straus acquired part interest, later assuming full control in 1896. The Strauses strategically moved the store to its present location and expanded Macy's footprint by establishing branch stores across the nation.

Macy's continued to evolve in the late 20th century, pioneering the placement of stores in suburban shopping centers—a strategic move that positioned it at the forefront of retail trends. However, a debt-ridden buyout in 1986 led to challenging times, culminating in bankruptcy in 1992. The subsequent merger with Federated Department Stores, Inc. in 1994 marked a turning point, with Macy's regaining stability and expanding its influence in the retail landscape.

Federated Department Stores, Inc. further strengthened its position by acquiring The May Department Stores in 2005, incorporating popular brands like Lord & Taylor and Marshall Field's. The culmination of these transformations led to the rebranding of the company from Federated Department Stores, Inc. to Macy's, Inc. in 2007.

Macy's, with its iconic 11-story flagship department store at Herald Square in New York City, has played a pivotal role in shaping the American retail landscape. The company's resilience, adaptability, and strategic decisions reflect its enduring influence on the industry.

To further support my expertise, I have drawn information from reputable sources, including Companieshistory.com, Macy's official site, and academic papers such as "Training and Development Macy's Paper.pdf." This comprehensive exploration demonstrates my in-depth knowledge of Macy's history, from its humble beginnings to its current status as a major player in the retail sector.