Analysis Of Macy & Co.

2588 Words Apr 26th, 2016 11 Pages
1. Introduction & History
Macy is one of the nation’s largest Omni channel retailers that just started off as a fancy dry goods store at the corner of 14th street and 6th Avenue in New York City in 1858. First-day sales totaled $11.06 but by the end of the first full year, sales grossed approximately $85,000. By 1918, R.H. Macy & Co. was generating $36 million in annual sales. In 1922 it began to open regional stores and take over competing retailers. On December 19, 1994 Federated Department Stores, Inc, which is now known as Macy’s Inc. acquired R.H. Macy & Co. Shortly after in 2000 Macy’s opened its first store outside of the continental United States in Puerto Rico. In June 2001, Federated purchased the Liberty House operations in Hawaii and Guam, bringing the proud Macy’s tradition and heritage to the Pacific. On February 28, 2005, Federated agreed to terms of a deal to acquire The May Department Store for $11 billion in stock, creating the nation 's second largest department store chain with $30 in annual sales and more than 1,000 stores. On July 28, 2005, Federated announced, based on the success of converting its own regional brands to the Macy 's name, its plans to similarly convert 330 regional department stores owned by the May Company. This is how Macy’s received its name which is recognized all over the U.S. Macy’s now serves customers through approximately 775 stores in virtually every major geographic market in the United States, as well as the macys.com…

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