Key Stats
Macy’s stands as one of America’s most recognized department store chains. The company operates through three main brands: Macy’s, Bloomingdale’s, and Bluemercury.
Founded in 1858 by Rowland Hussey Macy in New York City, the store has grown from a small dry goods shop to a retail giant. The iconic red star logo originated from Macy’s tattoo received during his whaling days.
Today, Macy’s sells apparel, accessories, cosmetics, home furnishings, and other consumer goods. The company serves customers through physical stores and its digital platform at macys.com. Headquarters are located in New York City.
Macy’s History
Rowland Hussey Macy opened R.H. Macy Dry Goods at 14th Street and 6th Avenue in New York. First-day sales totaled $11.06, but the year ended with approximately $85,000 in revenue.
The store occupied 11 adjacent buildings, transforming into a full department store. Rowland Macy passed away in Paris, leaving behind a thriving retail business.
Macy’s moved to Herald Square at Broadway and 34th Street. This location would become the flagship store and a New York City landmark.
The first Macy’s Thanksgiving Day Parade took place. The Herald Square store completed its expansion, becoming the world’s largest store with over 1 million square feet.
Federated Department Stores acquired R.H. Macy & Co. This merger created the largest premier department store company in the country.
Federated purchased May Department Stores Company. Regional nameplates were converted to Macy’s, expanding the chain to approximately 800 stores nationwide.
Federated Department Stores officially renamed itself Macy’s, Inc. This change recognized the power and heritage of the Macy’s brand.
Macy’s acquired Bluemercury for $210 million. The luxury beauty retailer operates standalone stores and boutiques within Macy’s locations.
The company announced plans to close 150 underperforming stores by 2026. Focus shifted to investing in remaining Macy’s locations and expanding Bloomingdale’s and Bluemercury.
Macy’s Co-founders
Born on Nantucket Island in 1822, Rowland Macy worked aboard the whaling ship Emily Morgan at age 15. He opened his first successful store in New York City at age 36 after several failed retail ventures. His red star tattoo from his sailing days became the iconic Macy’s logo.
Acquired Macy’s with his brother Nathan in 1895. Previously operated the china and glassware department under a licensing agreement. Tragically perished on the Titanic in 1912, choosing to stay with his wife Ida rather than board a lifeboat.
Co-owner with brother Isidor from 1895. Known for philanthropic work and public health advocacy. Helped transform Macy’s into a major department store chain while maintaining its innovative spirit and customer-first philosophy.
Macy’s Revenue
Macy’s annual revenue was $23.0 billion for fiscal 2024. The company experienced fluctuations over the past decade due to changing consumer preferences and economic conditions.
The 2020 revenue decline reflects pandemic-related store closures. Recovery began in 2021 as stores reopened and online sales accelerated. Recent years show stabilization as the company adapts its strategy.
Macy’s Marketcap
Market capitalization currently stands at approximately $5.2 billion. The company has seen significant valuation changes over the past decade reflecting retail industry challenges.
Peak valuations occurred in the mid-2010s before e-commerce competition intensified. Strategic restructuring and focus on profitable locations aim to restore shareholder value going forward.
Macy’s Acquisitions
Macy’s growth through acquisitions spans over a century. The company absorbed numerous regional department store chains while building national presence.
The 1994 Federated Department Stores acquisition of R.H. Macy & Co. represented a turning point. This $3.5 billion deal created the nation’s largest department store operator. Federated already owned Bloomingdale’s, which joined the Macy’s portfolio through this transaction.
May Department Stores Company became part of Macy’s in 2005 for approximately $11 billion. Regional brands including Marshall Field’s, Kaufmann’s, Filene’s, and Foley’s were converted to the Macy’s nameplate. This acquisition nearly doubled the store count and established true coast-to-coast coverage.
Bluemercury marked Macy’s first major acquisition in a decade when purchased for $210 million in 2015. The Washington, D.C.-based luxury beauty retailer operated about 60 stores at acquisition. Today, Bluemercury has expanded to over 180 locations and represents a key growth vehicle.
Throughout the 1990s and 2000s, Macy’s acquired numerous smaller regional chains. Broadway Stores brought California locations in 1995. Liberty House added Hawaii and Guam stores in 2001. These acquisitions followed a consistent strategy of geographic expansion and market consolidation.
The acquisition approach evolved from maintaining regional names to unified branding. Early deals preserved local identities like Rich’s and Lazarus. Project Hyphen briefly added Macy’s to regional names. By 2006, nearly all stores carried only the Macy’s banner, creating a single national brand.
Macy’s Competitors
Macy’s faces competition from traditional department stores, discount retailers, and online marketplaces. The retail landscape continues evolving as consumer shopping habits shift toward digital channels and value-oriented offerings.
| Competitor | Primary Focus | Market Position |
|---|---|---|
| Nordstrom | Upscale fashion retail | Premium department stores |
| Kohl’s | Mid-market value | Discount department stores |
| Dillard’s | Regional department stores | South and Midwest presence |
| JCPenney | Affordable family shopping | Mall-based department stores |
| Target | Discount retail | Big-box stores nationwide |
| TJ Maxx | Off-price retail | Discount fashion stores |
| Ross Stores | Off-price apparel | Value-focused chain |
| Saks Fifth Avenue | Luxury retail | High-end department stores |
| Neiman Marcus | Luxury fashion | Upscale specialty stores |
| Amazon | Online retail | E-commerce giant |
FAQs
Who owns Macy’s?
Macy’s, Inc. is a publicly traded company listed on the New York Stock Exchange under ticker symbol M. Major institutional shareholders include Vanguard Group, BlackRock, and State Street. No single entity owns a controlling stake.
When was Macy’s founded?
Rowland Hussey Macy founded the original R.H. Macy Dry Goods store on October 28, 1858, at the corner of 14th Street and Sixth Avenue in New York City. The store made $11.06 in sales on opening day.
How many stores does Macy’s operate?
Macy’s operates approximately 450 stores across the United States as of 2025. This includes Macy’s department stores, Bloomingdale’s locations, and Bluemercury boutiques. The company is closing underperforming stores while investing in profitable locations.
What does the Macy’s star logo represent?
The red star logo comes from founder Rowland Hussey Macy’s tattoo. He received the tattoo during his youth working aboard the whaling ship Emily Morgan. The star symbolizes guidance and has become an iconic retail symbol.
Is Bloomingdale’s owned by Macy’s?
Yes, Bloomingdale’s is owned by Macy’s, Inc. Bloomingdale’s joined the Macy’s corporate family in 1930 when it became part of Federated Department Stores. It operates as a separate luxury brand targeting upscale customers.