The Beginning of Macy’s

1947 Words Feb 23rd, 2018 8 Pages
The company is a mid-range to upscale chain of department stores that target middle to high level incomes. On November 25, 1929 Federated Department Stores was a new American retail company that was a combination of Bloomingdale’s, Filene’s of Boston, Abraham & Straus of Brooklyn, and F&R Lazarus & Company of Ohio. They all agreed to still keep separate identities but would come to link their financial interests. In 2005, Federated made a deal to acquire The Macy Department Stores Company, gaining $11 billion dollars in stock and making them the second largest department store chain in America. Macy’s operates under two names, Macy’s and Bloomindales. Today the company’s headquarters are based out of Cincinnati, Ohio and there are around 800 stores operating within the United States along with a large online presence as and (Exhibit 1). The department store provides apparel and accessories for men, women, and children. They also provide footwear, furniture, bedding, housewares, and beauty products. Macy’s closed out the 2013 fiscal year with revenue of $9.35 billion, a net income of $730 million and a market capital of 20.86 billion.
Macy’s Competitors Macy’s competes with many different retailers because of how they are formatted. Current competitors include Kohl’s, JCPenny, Amazon, and Sears (Exhibit 2). The…

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