Macy's, Inc.
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Macy's, Inc. headquarters
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| Public | |
| Traded as | |
| Industry | Retail |
| Founded | |
| Headquarters | Cincinnati, Ohio, U.S. |
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Number of locations
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888 (3Q 2016) |
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Area served
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Nationwide |
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Key people
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| Products |
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| Revenue |
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| Total assets |
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| Total equity |
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Number of employees
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157,900 (2016) |
| Subsidiaries |
Macy's Bloomingdale's Bluemercury |
| Website | macysinc |
US$ 28.105 billion (2014)Macy's, Inc., originally Federated Department Stores, Inc., is an American holding company headquartered in Cincinnati, Ohio. It is the owner of department store chains Macy's and Bloomingdale's, which specialize in the sales of clothing, footwear, accessories, bedding, furniture, jewelry, beauty products, and housewares; and Bluemercury, a chain of luxury beauty products stores and spas. As of 2016, the company operated approximately 888 stores in the United States, Guam, and Puerto Rico. Its namesake locations and related operations account for 90 percent of its revenue.
According to Deloitte, Macy's, Inc. is the world's largest fashion goods retailer and the 36th largest retailer overall, based on the company's reported 2010 retail sales revenue of $25 billion (equivalent to $27.5 billion in 2017).
Federated Department Stores was founded in Columbus, Ohio on November 25, 1929 as a department store holding company for Abraham & Straus, F&R Lazarus & Company (including its Cincinnati division, then known as Shillito's) and William Filene's Sons of Boston; Founded by Xavier Warren, Federated was the successor to the Lazarus operation begun in Columbus in 1851. In the mid-1930s, a modern merchandising standard was set when Fred Lazarus, Jr. arranged garments in groups of a single size with a range of style, color and price in that size, basing the technique upon observations made in Paris. Lazarus also convinced President Franklin D. Roosevelt that changing the Thanksgiving holiday from the last Thursday of November to the fourth Thursday, extending the Christmas shopping season, would benefit the nation's business; an act of Congress perpetuated the arrangement in 1941. After this date Black Friday became a nationwide sensation and the most profitable day for Federated. Various Lazarus family members also held key positions on Federated's board and within its various divisions—namely, Foley's, Filene's, Lazarus and Shillito's. Robert Lazarus Jr. was the only family member still with an official role at Federated until his death in 2013, serving as assistant to Ron Klein, then chairman and CEO of the Rich's/Lazarus/Goldsmith's operating unit. Federated's corporate offices were relocated to Cincinnati in 1945.
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