Macy's, Inc. (previously Federated Department Stores, Inc. ) is an American holding company of department stores . Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus , Lazarus , Filene's , and Shillito's . Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over Macy's , the old department store chain originally founded in 1858 by American entrepreneur Rowland Hussey Macy . Despite Federated's long history of preserving regional nameplates, its acquisition of the May Department Stores Company in 2005 marked the end of those nameplates. By the following year, both the Macy's and Bloomingdale's brands had replaced them nationwide. Ultimately, Federated itself was renamed Macy's, Inc. in 2007, an acknowledgment of the old store's venerable name.
57-767: Macy's, Inc. owns the department store chains Bloomingdale's and Macy's , and beauty store chain Bluemercury , all of which operate flagship stores in Manhattan . As of October 2022, it operates 722 locations in the United States , Guam , and Puerto Rico . The company was the world's largest fashion goods retailer and the 36th-largest retailer overall in 2010. Macy's, Inc. has been headquartered within Macy's Herald Square in New York City since 2020, and
114-583: A New York City suburb, where it assumed control of the former Ware's Department Store. After concluding that using pre-existing buildings could have been a better fit with its tried-and-true floor layouts, the company debuted its first custom-built store in 1949, located in the Fresh Meadows neighborhood across the East River in Queens . Over 25,000 people visited on its first day of business. During
171-576: A concept called "My Macy's", in which the buyers and planners all look at what the local consumer base is looking for in their local Macy's store. This will help bring a better sense of branding, sizing, and marketing to each Macy's store nationwide. Macy's Inc. decided to close the Bloomingdale's at the Mall of America in Minnesota . Since 1994, Bloomingdale's had been one of the 4 anchor stores of
228-429: A department store holding company for F&R Lazarus & Company (including its Cincinnati division, then known as Shillito's ), Abraham & Straus , and William Filene's Sons of Boston. In 1930, Bloomingdale Brothers of New York joined. 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, basing
285-548: A deterioration in the company's operating and credit metrics. The domain macysinc.com attracted at least 3 million visitors annually by 2008, according to a Compete.com survey. On Wednesday, February 6, 2008, Terry Lundgren announced the localization strategy and the company's plan to shed 2,550 jobs. This new localization strategy is known as "My Macy's." Employees of the Macy's North headquarters office in Minneapolis ,
342-435: A group of owners led by Edward J. DeBartolo Corporation . Also in 1992, Macy's declared bankruptcy; Federated acquired it two years later, in 1994. The name of the once-main-rival of Federated, Macy's, would soon become the consumer-facing identity of most of Federated's stores. In 1995 Federated bought Broadway Stores, Inc. and its California-based Emporium-Capwell , Weinstock's and The Broadway chains. Macy's changed
399-451: A high-profile battle, with Macy's (at that time not part of Federated, but a rival), also submitting competitive bids of over $ 6 billion. Nonetheless, in April 1988, Federated gave in and agreed to a $ 6.6 billion takeover by Campeau. It was the largest merger in corporate history, barring the oil sector. Macy's paid Campeau $ 1.1 billion to acquire the 20-store Bullock's / Bullocks Wilshire and
456-525: A premier department store. By the 1950s, Bloomingdale's had become an established and influential retail institution. The store's commitment to offering a wide range of high-quality merchandise and its role in shaping fashion trends laid the foundation for its continued growth and legacy in the decades to come. In 1947, and tandem with America's economic boom after World War II , Bloomingdale's opened its first store outside of Manhattan in New Rochelle ,
513-414: A variety of special events and unique merchandise offerings through the end of the year at its Manhattan flagship location. Notes to Table Partial list (stores open at end 2023, plus 4 that closed in 2012) Store Type: 40°45′43″N 73°58′00″W / 40.76194°N 73.96667°W / 40.76194; -73.96667 Bullock%27s Too Many Requests If you report this error to
570-616: A very exciting future for Macy's and Bloomingdale's" said Terry J. Lundgren , chairman, president and chief executive officer. Macy's also got rid of its division structure and integrated its functions into one organization. Macy's central buying, merchandise planning, stores senior management and marketing functions merged to its New York City corporate office (formerly Macy's East ). Corporate-related business functions, such as finance and human resources, will be primarily in Cincinnati. To buy with local consumers in mind, Macy's developed
627-577: Is an American luxury department store chain founded in 1861 by Joseph Bloomingdale and Lyman Bloomingdale . It was acquired by Federated Department Stores in 1930, which acquired the Macy’s department store chain in 1994, when they became sister brands. Ultimately, Federated itself was renamed Macy’s, Inc. in 2007. As of 2024, the chain had a total of 32 owned department stores in the U.S. and 3 franchised stores in Dubai and Kuwait ; 21 outlet stores (all in
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#1732779770684684-491: The Great Depression . After World War II, Bloomingdale's played a crucial role in shaping post-war American fashion. The store actively engaged with European designers and trends, as well as promoting American designers, and was an influencer in fashion trends and the evolution of American fashion sensibilities. This period marked a phase of continued growth and influence for Bloomingdale's, solidifying its status as
741-405: The Macy's masthead and a few to the Bloomingdale's name. One of the consequences of this rebranding is that several malls have two Macy's stores. In downtown Boston, Federated liquidated an acquired Filene's because it already had a Macy's (formerly a Jordan Marsh) across the street. The two stores have a combined floorspace of more than 1,400,000 square feet (130,000 m), more than two-thirds
798-608: The New York City Subway debuted, the store's primary entrance was shifted to its Lexington Avenue side in 1918 to draw customers coming from the nearby IRT Lexington Avenue Line stop at 59th Street and Lexington Avenue . Given that the U.S. was involved in World War I , Samuel Bloomingdale gave the American Red Cross free use of an entire floor there until the war ended. By 1927, after acquiring all
855-732: The Phoenix market with a 180,000-square-foot store by 2009. Arizona would have been the thirteenth state to have a Bloomingdale's store location, with this store being the tenth in the western U.S. and 41st throughout the chain. This store never materialized as a result of the Great Recession in 2008 and 2009. In May 2008, Bloomingdale's began the phase-out of its Bloomingdale's By Mail catalog to greater emphasize its rapidly growing online presence at bloomingdales.com. On September 10, 2008, Macy's announced plans to open three new Bloomingdale's stores, two modeled after its SoHo store. One
912-497: The U.S. West Coast , converting four former chains of The Broadway , which it acquired via its merger with Macy's, in Southern California into Bloomingdale's stores in a single day. Bloomingdale's continued growth and shuttering of duplicative locations stemming from Macy's merger. In 2004, the company returned once again to downtown Manhattan, opening an 82,000-square-foot store – featuring an "edited" selection of
969-480: The United Nations recognition of China in 1971, it became the first American retailer to sell products from Communist-era China. Its iconic rounded logo debuted in 1972, followed a year later by its "Big Brown Bag" and "Little Brown Bag," all of which remain in use today. Bloomingdale's continued to thrive throughout the 1970s, despite New York City's turbulence at the time, partly via continued expansions into
1026-439: The 1960s, Bloomingdale's shifted its merchandise mix to incorporate haute couture fashions imported from Paris and home furnishings from Italy. It also launched its first single designer-specific department in 1969, for Halston , one that was quickly followed later that year by a dedicated Polo Ralph Lauren boutique in its men's store. By the early 1970s, Bloomingdale's had begun embracing avant-garde European design, and following
1083-471: The 25-store specialty apparel chain I. Magnin . Two years later, Federated filed for bankruptcy after Campeau failed to refinance the debt of Federated and Allied Stores Corp. In 1992, Campeau was ousted and Federated emerged from bankruptcy as a new public company, Federated Stores, Inc. , dropping the word "Department" from the previous company. As part of the reorganization, Federated sold the Ralphs chain to
1140-784: The Dubai store would most likely be the only store outside of the U.S. (The company's leaders later had a change of heart, and opened a branch in Kuwait in 2017.) Later in 2010, the company launched its first outlet store at Potomac Mills , located outside of Washington, D.C. In 2012, Macy's Inc. closed four Bloomingdale's stores, one each in the Minneapolis (Mall of America), Atlanta (Perimeter), Washington DC (White Flint), and Chicago (Oak Brook) areas. In late 2019, Macy's announced that fur would no longer be sold in any of its stores, including Bloomingdale's department & outlet stores, as of
1197-697: The Federated Department Stores corporate umbrella for the first time since 1988. Federated announced plans to sell 80 store locations in 2006, having pledged in its settlement to sell most of them as viable businesses, with preference being given to a group of thirteen competitors. This number could fluctuate pursuant to Federated's negotiations with various mall landlords and its final decision regarding using former Macy locations for its luxury Bloomingdale's operation. On January 12, 2006, Federated announced its plans to divest May Company's Lord & Taylor division (48 stores in 12 states) by
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#17327797706841254-568: The Macy's Northwest headquarters office in Seattle , and the Macy's Midwest headquarters office in St. Louis were given pink slips , as Macy's pared its seven regional centers to four. About 40 new jobs were to be created in May as part of the restructuring. By 2009, the company expected to save $ 100 million (equivalent to $ 142 million in 2024) a year from the cuts. On February 2, 2009, Macy's announced
1311-550: The U.S.), and 3 Bloomie's by Bloomingdales concept stores. Its headquarters and flagship store are located at 59th Street and Lexington Avenue in the New York City borough of Manhattan . The first Bloomingdale's was founded in New York City by Benjamin Bloomingdale and his son Lyman Bloomingdale in 1861 in its Lower East Side area, originally under the name Bloomingdale's Hoopskirts, initially focused on selling hoop skirts and European fashions. The brothers quickly identified opportunities for growth and expansion in
1368-476: The buyout was the bridal and formal unit of May, consisting of David's Bridal and After Hours Formalwear . Federated would also assume $ 6 billion (equivalent to $ 9.36 billion in 2024) of May's debt, bringing total consideration to $ 17 billion (equivalent to $ 26.5 billion in 2024). The deal would create the nation's largest department store chain with over 1,000 stores and $ 30 billion (equivalent to $ 46.8 billion in 2024) in annual sales. To help finance
1425-419: The company revised its plans for the new name, opting to eventually become Macy's, Inc. Federated shareholders approved the revised proposal during the company's annual meeting on May 18, 2007. The name took effect on June 1, 2007. The reasoning for the proposed name change—according to Terry Lundgren , Federated's chairman, president, and chief executive officer—hinges on the large-scale conversions throughout
1482-727: The company toward the Macy's nameplate. "Today, we are a brand-driven company focused on Macy's and Bloomingdale's, not a federation of department stores," Lundgren said in the company's press release heralding the proposed name. Upon the change to Macy's Inc., Federated's stock ticker symbol on the New York Stock Exchange changed from "FD" to "M", making the new Macy's Inc. one of a handful of single-letter ticker symbol companies. In April 2008, Moody's Investors Service said that it might downgrade Macy's Inc. bonds to just above junk status. That same month, Fitch Ratings downgraded their bond credit rating to BBB− from BBB, noting
1539-431: The company, successfully acquiring it for $ 6.6 billion: it was the largest non-oil corporate merger ever at the time. Bloomingdale's faced continued economic challenges in the early 1990s, resulting in the closures of its Dallas , Fresh Meadows, and Stamford, Connecticut locations. In 1994, Federated Stores acquired the entire Macy's chain, which had been in bankruptcy for two years. In 1996, Bloomingdale's expanded to
1596-630: The deal, Federated agreed to sell its combined proprietary credit card business (but still administered by FACS Group, a subsidiary of Federated) to Citigroup. The merger was completed on August 30, 2005, after an assurance agreement was reached with the Attorneys General of New York , California , Massachusetts , Maryland , and Pennsylvania . As a result of the merger, Federated also in the process reacquired two of their former department store chains Foley's & Filene's (Which Federated originally sold to May Company), putting them back under
1653-425: The department store window display in the late 19th century set a trend, making the store more visually appealing and attracting attention from passersby. This approach contributed to the store's reputation for being fashion-forward. By 1902, the store grew to occupy 80 percent of the city block between 58th St. and 59th St. to the north and south, and Third Avenue and Lexington Avenue to the east and west. After
1710-479: The dynamic retail landscape of the time.In 1872, Lyman and his brother Joseph opened a second location called Bloomingdale's Great East Side Bazaar in Midtown Manhattan at 965 Third Avenue, between 56th & 57th Sts. The Bazaar later moved into three adjacent buildings further up the block before finally moving into a building at 59th St. and Third Avenue , where its flagship store remains today. In
1767-504: The elimination of 7,000 jobs, or 4% of its workforce, and slashed its dividend as it looked to lower expenses as part of a major restructuring. Cincinnati -based Macy's Inc. stated that the workforce reduction included positions in offices, stores, and other locations, and the cuts include some unfilled jobs. "Reducing our workforce is an unfortunate outcome of the current economic environment, and I am frustrated that so many of our people will be unable to move forward with us as we proceed into
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1824-655: The end of 2006 after utilizing prime and conflicting real estate by closing and converting several locations. On June 22, 2006, Macy's announced that NRDC Equity Partners , LLC would purchase Lord & Taylor for US$ 1.2 billion (equivalent to $ 1.81 billion in 2024), and completed the sale in October 2006. On September 9, 2006, the former May Company store names Famous-Barr , Filene's , Foley's , Hecht's , The Jones Store , Kaufmann's , L. S. Ayres , Marshall Field's , Meier & Frank , Robinsons-May , and Strawbridge's disappeared as Federated switched most of them to
1881-423: The end of March quickly evaporated due to the pandemic's rapid spread, as did its intent to do so by the end of April 2020: as was the case with most brick-and-mortar retailers, Macy's ended up closing some of its stores for a year or more, with reopening days that varied depending on their locations. Some did not reopen until late 2021. On September 9, 2022, Bloomingdale's celebrated its 150th anniversary, featuring
1938-411: The end of the 2020 fiscal year. As part of an initiative to better establish its New York flagship store as a "retail destination," designed to allure shoppers who primarily purchase department store goods online, Bloomingdale's introduced new departments and offerings throughout the decade, including a branch of Magnolia Bakery and a boutique for Sarah Jessica Parker 's SJC Collection shoe line. It
1995-821: The flagship store's offerings – in SoHo . In 2007, Bloomingdale’s expanded into San Diego ( Fashion Valley ) and Costa Mesa ( South Coast Plaza ), once again by replacing former Robinsons-May stores that closed in 2006, in each case because there were already existing Macy's stores in each mall. In 2006, Bloomingdale's opened its largest store save its Manhattan flagship in San Francisco 's Union Square, 330,000 sq ft (31,000 m ) in area. On June 1, 2007, Federated Stores changed its corporate name to Macy's, given its more robust name recognition, but left its Bloomingdale's store names intact. On February 14, 2008, parent company Macy's, Inc. announced plans to enter
2052-533: The holiday evening, and remained open for 24 hours straight until the close of business on Friday, which is usually about 10 p.m. As of February 2014, Macy's Inc. is valued at US$ 28 billion. In September 2015, Macy's announced it would close 40 stores, 5% of its total stores in early 2016. It also announced plans to open 6 additional Macy's Backstage locations. From 2010 to 2015, Macy's had closed 52 stores and opened 12. In February 2020, Macy's announced that their headquarters in downtown Cincinnati will be closing in
2109-470: The hyphenated names were changed to simply Macy's, a rebranding process referred internally to as Project Star. The department store chain Stern's , a division of Federated, ceased operations in 2001 and most of its stores became Macy's stores. Federated began selling goods online in 1998, rather later than most contemporary large retailers; Federated ran a private bank, FDS Bank, which issued and maintained
2166-744: The last remaining family member with an official role at the company.) In 1945, Federated moved its corporate offices to Cincinnati . The latter half of the 20th century saw the company expand nationwide, adding Rike Kumler of Dayton, Ohio (merged into Shillito's in the 1980s to become Shillito-Rike's); Burdines of Miami, Florida; Rich's of Atlanta, Georgia; Foley's of Houston, Texas; Sanger Brothers and A. Harris, both of Dallas, Texas (which were merged to form Sanger-Harris ); Boston Store of Milwaukee, Wisconsin; MainStreet of Chicago, Illinois; Bullock's , of Los Angeles; I. Magnin , of San Francisco, California; Gold Circle ; and Richway Discount Department Stores of Worthington, Ohio. Federated entered
2223-489: The majority of its own consumer credit card portfolio, was one of the last credit card banks to begin to allow its cardholders to access account information online (around 2004). In 1998, Federated settled an SEC investigation for $ 14.46 million (equivalent to $ 27 million in 2024) due to unethical debt-collection practices. Federated routinely forced credit card holders/debtors to sign an agreement that legally bound them to repay their outstanding balances instead of having
2280-404: The mall, and will be replaced with a $ 30 million renovation with four new foreign clothing stores. On October 14, 2013, Macy's Inc. announced the decision to open most of their stores for the first time on Thanksgiving Day 2013, breaking a long-standing tradition of 155 years, and joined the ranks of retailers who created Gray Thursday the year before. Its doors opened at 8 p.m. (local time) on
2337-576: The nameplate of these three chains and Bullock's to Macy's, or in some cases, turned locations into Bloomingdales. In 2003, Federated changed the nameplates of almost all their remaining non-Macy's stores – the lone exception was Bloomingdales – to include the Macy's name, a rebranding internally dubbed Project Hyphen. For example, Seattle -based The Bon Marché became Bon-Macy's; Goldsmith's in Tennessee became Goldsmith's-Macy's; Lazarus, Burdines, and Rich's also added "-Macy's" to their name. A year later,
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2394-416: The near future with all corporate operations relocating to New York City. This news came after a gradual pulling out of the Cincinnati area with a couple of area store closures and the retirement of a top executive. In November 2021, Macy's announced the launch of its digital marketplace, which set to debut in the second half of 2022. Macy's will partner with AlixPartners and Mirakl . In November 2023, it
2451-501: The remaining portions along it, Bloomingdale's controlled 100 percent of the block, expanding the store's size to 84,000 square feet (later nearly quadrupled via newly added floor space). Like most publicly traded companies, Bloomingdale's faced severe financial problems following the Black Tuesday stock market crash in 1929, and it merged with the newly created Federated Department Stores in early 1930, which helped it survive
2508-406: The size of Macy's New York City flagship store. On November 17, 2006, the bridal and formal unit was sold. David's Bridal and Priscilla of Boston were sold to Leonard Green & Partners . After Hours Formalwear was sold to Men's Wearhouse . On February 27, 2007, Federated announced that its board of directors would ask shareholders to change the company's name to Macy's Group, Inc. By March 28,
2565-485: The store's position as a prominent retail destination. In 1872, the store changed its name to "Bloomingdale's", reflecting the family name but also symbolized the flourishing and growth of their business. Joseph Bloomingdale retired from the company in 1896, giving his brother Lyman full control, and Lyman's sons Hiram and Samuel inherited his shares upon his death in 1905. As the 20th century dawned, Bloomingdale's embraced innovative retail practices. The introduction of
2622-407: The subsequent years, Bloomingdale's underwent a series of relocations and expansions. The brothers moved the store from its original location to a larger space on 59th Street and Third Avenue. As the business flourished, necessitating more significant retail space, the store moved once again to its iconic location at 59th Street and Lexington Avenue in 1886. This move marked a turning point, solidifying
2679-644: The suburbs. Its largest branch opened in White Plains, New York in 1975, with 260,000 square feet of floor space, and shortly after that, Bloomingdale's shuttered its original, but much smaller, New Rochelle branch. In 1976, Bloomingdale's launched its first store outside of the New York City area in Tysons, Virginia , a suburb of Washington, D.C. in Northern Virginia . The First Lady at
2736-736: The supermarket industry in 1968 when it acquired the Ralphs chain based in Southern California. In 1982, Federated acquired the Twin Fair, Inc. discount store chain based in Buffalo, New York , and merged it with Gold Circle. In 1983, Federated sold four shopping center properties to JMB Realty . Canadian real estate developer Robert Campeau – who had taken over and dismembered Allied Stores in 1986 – attempted to take over Federated starting in early 1988 which Federated fought off in
2793-661: The technique upon observations made in Paris. As well, Lazarus convinced President Franklin D. Roosevelt that it would help American economy to change the Thanksgiving holiday from the last Thursday of November to the fourth Thursday, thus extending the Christmas shopping season. An act of Congress perpetuated the arrangement in 1941. Black Friday became a nationwide sensation and the most profitable day for Federated. (Robert Lazarus Jr. worked at Federated until he died in 2013,
2850-565: The time, Betty Ford , attended its opening as its guest of honor. In 1981, Bloomingdale's opened a branch at the King of Prussia Mall in suburban Philadelphia , then the largest mall in the world. Other new stores opened as well, along the East Coast , Florida , Chicago , and in Dallas, Texas . In 1988, Canadian real estate developer Robert Campeau launched a hostile takeover attempt of
2907-672: The unsecured debt discharge via the filing of bankruptcy . Federated failed to file reaffirmation agreements with bankruptcy courts. As a result, the changes in the agreements were not legally binding. In 2001 Federated acquired Liberty House of Hawaii as it emerged from Chapter 11 bankruptcy . It was managed as part of Macy's West and all the store names were changed to Macy's. In 2005, Federated agreed to sell its credit card business to Citigroup . On February 28, 2005, Federated Department Stores announced that it would acquire May Department Stores company for $ 11 billion (equivalent to $ 17.2 billion in 2024) in cash and stock. Also part of
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#17327797706842964-515: Was delayed until 2020, primarily due to the Great Recession, and Santa Monica closed in 2021 due to subpar performance. In February 2010, Macy's launched Bloomingdale's first international location in Dubai . As is the case for rival Saks Fifth Avenue , the global presence for Bloomingdale's is operated under license by a local interest: in this case, Al Tayer Group LLC, a leading UAE-based conglomerate. Bloomingdale's CEO announced that
3021-764: Was intended to be a three-level 82,000-square-foot (7,600 m ) anchor store at The Shops at Georgetown Park in Washington, D.C. , but the plan collapsed after the mall's parent company declared bankruptcy. The other two stores were completed, including a new 150,000 sq ft (14,000 m ) branch at Westfield Valley Fair in San Jose, California , and a 205,000 sq ft (19,000 m ) store in Santa Monica Place , in Santa Monica, CA . The latter debuted in early 2010. San Jose's debut
3078-790: Was particularly criticized, with many customers boycotting its historic State Street flagship store. The Chicago Tribune continues to report on the poor reception of Macy's in Chicago. Pittsburgh customers also strongly resisted the name change from Kaufmann's, in part because of the Kaufmann family role in Pittsburgh history, as well as the central store's Christmas windows and holiday parade. Strawbridge's added to division in 1996 Meier & Frank added to division in 2002 ; Zion's Cooperative Mercantile Institution (2001, to Meier & Frank) Bloomingdale%27s Bloomingdale's Inc.
3135-800: Was previously headquartered in Cincinnati , Ohio from 1945 until 2020. Federated Department Stores traces its corporate lineage to F&R Lazarus & Company , founded in Columbus, Ohio , in 1851. In the summer of 1929, months before the Wall Street Crash of 1929, Fred Lazarus Jr. met with Walter N. Rothschild from Abraham & Straus of Brooklyn and Edward Filene from Filene's of Boston on Rothschild's yacht in Long Island Sound. The three businessmen agreed to merge their stores and form Federated Department Stores, as
3192-467: Was reported that Arkhouse Management and Brigade Capital Management have offered to buy Macy's Inc. for $ 5.8 billion. Macy's rejected the offer in January 2024 citing the unsolicited offer to be undervalued. The investor group increased their offer to $ 6.6 billion two months later. In February 2024, Macy's announced it would close 150 stores by 2026. The conversion of Marshall Field's in Chicago
3249-503: Was the first department store in New York to offer the latter. In 2018 and 2019, Bloomingdale's remodeled nearly 200,000 square feet inside the store, wholly revamping its denim, cosmetics, shoes, and women's contemporary clothing departments. In March 2020, Macy's, Inc. announced that it would temporarily close all Bloomingdale's and Macy's locations as a result of the rapidly spreading COVID-19 pandemic. Its original plan to reopen at
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