Macy's

Macy’s Inc. is the largest US department-store group by store count and revenue, listed on the New York Stock Exchange under M and headquartered in New York City. The group operates the namesake Macy’s banner, Bloomingdale’s (the elevated luxury department-store banner), and Bluemercury (the beauty specialty stores), with Macy’s serving as the mainstream-and-mid-market anchor of the multi-banner portfolio.

Founded in 1858 in New York City by Rowland Hussey Macy as R.H. Macy & Co., the chain progressively expanded through the late nineteenth and twentieth centuries before being acquired by Federated Department Stores in 1994 and subsequently renamed Macy’s Inc. in 2007. The flagship Herald Square store in Midtown Manhattan, occupying an entire city block at 34th Street and Broadway since 1902, remains one of the largest department stores in the world by square footage and serves as the anchor for the brand’s defining cultural moments including the Macy’s Thanksgiving Day Parade (running annually since 1924) and the Fourth of July Fireworks Spectacular. Macy’s Inc. reported total revenue of approximately $23.1 billion in fiscal year 2024 (ended February 1, 2025), down year-over-year amid the continued department-store-category structural pressure that has driven sustained store-rationalization across the broader US department-store segment. Tony Spring was named CEO in February 2024, succeeding Jeff Gennette in leading the multi-year “A Bold New Chapter” strategic plan that includes the closure of approximately 150 underperforming Macy’s stores by 2026 and concentrated investment in approximately 350 retained “go-forward” stores with refreshed merchandising, store experience, and digital integration.

Macy’s operates approximately 500 namesake department stores across the United States and Puerto Rico following the ongoing closure program, supplemented by approximately 30 Macy’s Backstage off-price standalone stores and the multi-banner Bloomingdale’s and Bluemercury operations. The typical Macy’s store occupies 150,000 to 350,000 square feet, with the flagship Herald Square reaching approximately 2.5 million square feet. For mall operators, Macy’s is a Class A and Class B department-store anchor for regional and super-regional centers, with the brand’s role progressively evolving from a foundational mall anchor to a more selective premium-positioned operator under the “Bold New Chapter” strategy. The ongoing store closures create both anchor vacancy backfill opportunities for landlords and concentrated investment in retained Macy’s locations that signal long-term commitment to specific shopping centers. The accompanying Bloomingdale’s luxury department-store banner provides higher-tier mall positioning for select super-regional centers and luxury-oriented destinations.