Macy's, Inc. (M): history, ownership, mission, how it works & makes money (2024)

A Brief History of Macy's, Inc. (M)

Macy's, Inc. is one of the oldest department store chains in the United States. The company was founded by Rowland Hussey Macy in 1858 in New York City. Macy's started off as a small dry goods store on Sixth Avenue, where it quickly gained popularity and reputation for its high-quality merchandise and innovative marketing tactics.

Over the years, Macy's expanded its operations and became known for its extravagant window displays during the holiday season. In 1902, the flagship store was moved to Herald Square, where it still stands today as one of the largest department stores in the world.

• 1924: Macy's held its first Thanksgiving Day Parade, which has now become an iconic annual event in New York City.
• 1945: The company went public, trading on the New York Stock Exchange under the ticker symbol "M."
• 1994: Macy's merged with Federated Department Stores, Inc., expanding its reach across the country.
• 2007: Macy's, Inc. was officially formed as the parent company of Macy's and Bloomingdale's department stores.

Today, Macy's, Inc. operates over 700 department stores under the Macy's and Bloomingdale's banners, as well as an online retail platform. The company continues to be a leader in the retail industry, offering a wide range of products from clothing and accessories to home goods and beauty products.

Who Owns Macy's, Inc. (M)

Macy's, Inc. is a publicly traded company, meaning it is owned by shareholders who purchase stock in the company. The largest shareholders of Macy's, Inc. are institutional investors, including mutual funds, pension funds, and investment firms.

The top institutional shareholders of Macy's, Inc. include:

• Vanguard Group
• BlackRock
• State Street Corporation
• Fidelity Investments

These institutional investors own a significant portion of Macy's, Inc. stock and play a role in influencing the company's decisions and direction. Additionally, individual investors who purchase Macy's, Inc. stock on the open market also own a portion of the company.

Macy's, Inc. (M) Mission Statement

Macy's, Inc. is one of the nation's premier retailers, with a rich history of serving communities through exceptional products and customer experiences. The company's mission statement focuses on providing outstanding value, superior service, and exceptional quality to its customers.

• Outstanding value: Macy's, Inc. strives to offer high-quality products at competitive prices, ensuring that customers receive the best value for their purchases.
• Superior service: The company is committed to providing a seamless shopping experience for its customers, with knowledgeable and friendly staff ready to assist with any needs.
• Exceptional quality: Macy's, Inc. is dedicated to offering products of the highest quality, from top brands and designers, to ensure customer satisfaction and loyalty.

By staying true to its mission of delivering outstanding value, superior service, and exceptional quality, Macy's, Inc. continues to be a trusted destination for shoppers seeking the latest trends and timeless classics in fashion, beauty, home goods, and more.

How Macy's, Inc. (M) Works

Macy's, Inc. is a well-known retail company that operates the Macy's and Bloomingdale's brands. The company works by offering a wide range of products including clothing, accessories, beauty products, home goods, and more through its retail stores, website, and mobile app.

One of the key aspects of how Macy's, Inc. operates is its focus on providing a seamless shopping experience for customers. This includes offering a variety of ways to shop, such as in-store, online, and through their app, as well as providing services like buy online, pick up in-store and same-day delivery.

Macy's, Inc. also works by constantly updating its product offerings to stay current with trends and customer preferences. The company collaborates with designers and brands to offer exclusive collections, and regularly introduces new brands to keep their merchandise fresh and exciting.

• E-commerce: Macy's, Inc. has a strong online presence, allowing customers to shop from the comfort of their own homes. The website features a user-friendly interface, secure payment options, and fast shipping to ensure a positive online shopping experience.
• Retail stores: Macy's, Inc. operates numerous retail locations across the United States, offering a wide selection of products in a brick-and-mortar setting. The stores are designed to provide an inviting atmosphere for customers to browse and make purchases.
• Marketing: Macy's, Inc. invests heavily in marketing efforts to promote its brands and products. This includes advertising campaigns, social media outreach, and partnerships with influencers and celebrities to reach a diverse audience.

How Macy's, Inc. (M) Makes Money

Macy's, Inc. is a well-known department store chain that generates revenue through a variety of channels. Here are some key ways in which Macy's makes money:

• Retail Sales: The primary source of revenue for Macy's is through the sale of clothing, accessories, beauty products, home goods, and other items in its physical store locations and online.
• Online Sales: Macy's has a strong e-commerce presence, allowing customers to shop online and have items delivered to their homes. This segment of the business has been growing steadily in recent years.
• Licensing Agreements: Macy's has partnerships with various brands and designers to sell their products in Macy's stores. These licensing agreements bring in additional revenue for the company.
• Credit Services: Macy's offers a credit card to customers, and revenue is generated through interest and fees associated with the use of the card.
• Special Events and Promotions: Macy's hosts special events, sales, and promotions throughout the year to attract customers and drive sales. Revenue is generated through increased foot traffic and sales during these events.