HISTORY OF MACY’S, INC. THE FIRST RETAILER IN THE WORLD TO PROMOTE A WOMAN IN A MANAGEMENT POSITION

We everyone who related with clothing, shopping, buying, supply chain well know about macy’s, today i discuss about history of macy’s, inc.

No one would have guessed that the small, fancy dry goods which opened on the corner of 14th Street and 6th Avenue in New York in 1858 would grow to be one of the largest retailers in the world.

But after several retail businesses failed, determination and ingenuity of Rowland Hussey Macy paid at the age of 36 with the launch of RH Macy & Co. It adopted a red star as a symbol of success, dating back to its days as a sailor. Sales for the first day totaled $ 11.06 but at the end of the first year, sales increased by approximately $ 85,000. In 1877, RH Macy & Co. became a separate store occupying the floor space 11 adjacent buildings.

Always the innovator, Macy’s is known for several firsts that have changed the retail industry. Macy was the first retailer to promote a woman, Margaret Getchell in a management position, making the company’s history. Macy pioneering revolutionary business practices such as the single price system in which the same item was sold to each customer at a price, and quoting specific prices for advertising products in newspapers. Known for his creative merchandising, Macy was the first to introduce products such as tea bag, potato Idaho baked and colored towels. Macy was also the first retailer to hold a liquor license in New York City.

In November 1902 the store had exceeded its modest storefront and moved uptown to Herald Square its current location on Broadway and 34th Street, the establishment of an attraction for buyers worldwide. With the expansion of 7th Avenue store completed in 1924, Macy’s Herald Square has become the “world’s largest store”, with more than 1 million square feet of retail space. (Note that Macy’s Herald Square is expanding 1.1 million square feet of retail space in the ongoing renovation project.)

In 1918, RH Macy & Co. was generating $ 36 million in annual sales. Yet the prosperity of the retailer was never more apparent than when the company went public in 1922 and began to open regional warehouses and support competing retailers. In 1923, the department store based in Toledo Lasalle & Koch was acquired; next year, Davison-Paxton in Atlanta was acquired; and in 1936, based in Newark Bamberger was purchased.

To help celebrate their new American heritage, Macy immigrant employees organized the first Christmas parade in 1924. The procession featured floats, bands, zoo animals and 10,000 spectators, beginning centuries of tradition now known as Thanksgiving Day Parade Annual Macy.

In 1945, the company expanded west and bought O’Connor Moffatt & Company in San Francisco. Two years later, stores O’Connor Moffatt, including Union Square boutique landmark that opened in 1866, were converted to Macy after an investigation found that San Franciscans host name.

California Macy innovated with the first flower show store in 1946. What started as a fragrance promotion in the cosmetics department now every year the spring season, treating visitors to a botanical, cultural and community and show held in New York City, Chicago, Minneapolis, Philadelphia and Washington, DC, in addition to San Francisco. In 1971, the lower level of Union Square Macy’s store, once crowded bargains, has been transformed into “The Cellar” change the way customers shop for household items. Due to its success, the Herald Square store followed five years later.

The December 19, 1994, Federated Department Stores, Inc. (now known as Macy’s, Inc.) acquired RH Macy & Co., creating the largest company of the world’s first department store. Federated Department Stores operated more than 400 stores and more than 157 specialty stores in 37 states.

A & S Department stores were converted to the rating plate of Macy May 1995. Also in 1995, Federated Department Stores acquired Broadway, bringing Broadway Emporium and Weinstocks family of Macy and six former I. Magnin stores . Some 46 stores were converted to the Macy’s nameplate. Following the model of A & S, Jordan Marsh Department Stores Boston, already owned by Federated, was converted to Macy in March 1996. In January 2001, the Great Stern Macy absorbed 17 stores located in New York and New Jersey. In June 2001, the Federated bought the Liberty House operations in Hawaii and Guam, bringing the tradition and heritage of the proud Macy in the Pacific.

Macy entered 2005 with about 240 locations, mostly on the East and West coasts. With the conversion nameplates regional stores all federated in March 2005, Macy has grown to about 425 locations across the country. In September 2006, with the conversion of stores acquired from The May Department Stores Company, Macy now serves its customers through approximately 800 stores in almost all major geographic market in the United States and the website macys.com .

Source by: macy’s press

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