It is the owner of department store chains Macy's and Bloomingdale's , which specialize in the sales of clothing, footwear, accessories, bedding, furniture, jewelry, beauty products, and housewares; and Bluemercury, a chain of luxury beauty products stores and spas.

As of , the company operated approximately stores in the United States , Guam , and Puerto Rico.

According to Deloitte , Macy's, Inc. In the mids, a modern merchandising standard was set when Fred Lazarus, Jr. Lazarus also convinced President Franklin D.

Federated to change name to Macy's, trade under symbol 'M' - Mar. 28,

Roosevelt that changing the Thanksgiving holiday from the last Thursday of November to the fourth Thursday, extending the Christmas shopping season, would benefit the nation's business; an act of Congress perpetuated the arrangement in After this date Black Friday became a nationwide sensation and the most profitable day for Federated.

Various Lazarus family members also held key positions on Federated's board and within its various divisions—namely, Foley's, Filene's, Lazarus and Shillito's. Federated's corporate offices were relocated to Cincinnati in The later half of the 20th century saw the company expand nationwide, adding Rike Kumler of Dayton, Ohio merged into Shillito's in the s 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 was merged with Sanger Brothers 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. In , Federated acquired the Twin Fair, Inc. To support its huge retail operations, Federated centralized its back-office functions into several large divisions, covering financial services, marketing, merchandising, logistics, and data processing systems.

Other retailers' branded credit cards are usually issued and serviced by a third-party bank; Federated was so huge that it ran its own private bank, FDS Bank, which for many years issued and maintained the majority of its own consumer credit card portfolio with a portion at one time owned by General Electric Credit Corporation, an arrangement inherited from when R. In Federated finalized an arrangement with Citigroup to sell its consumer credit portfolio, reissuing its cards under the Federated-CitiGroup Alliance name Department Stores National Bank DSNB and allowing Federated to continue servicing the credit accounts from its Financial, Administrative and Credit Services Group Macy's Credit and Customer Services.

In , Federated—now under the control of Robert Campeau —went bankrupt after its hostile takeover of Allied Stores ; it emerged from bankruptcy after the ouster of Campeau in as a new public company. Federated then took over Macy's in while that company was still emerging from its own bankruptcy in Federated entered e-commerce late, in FDS Bank was one of the last credit card banks to begin to allow its cardholders to access account information online around The department store chain Stern's , a division of Federated, ceased operations in and most of its stores became Macy's stores.

In , Federated changed the nameplates of all their non-Macy's stores, except Bloomingdale's, to include the Macy's name.

The rebranding process was referred internally to as Project Hyphen.

A year later, the original hyphenated names were dropped in favor of just Macy's, a rebranding process referred internally to as Project Star. Federated failed to file reaffirmation agreements with bankruptcy courts. As a result, the changes in the agreements were not legally binding. Also part of the buyout was the bridal and formal unit of May, consisting of David's Bridal and After Hours Formalwear.

To help finance the deal, Federated agreed to sell its combined proprietary credit card business but still administered by FACS Group, a subsidiary of Federated to Citigroup. Federated announced plans to sell 80 store locations in , 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 September 9, , May Company division stores Famous-Barr , Filene's , Foley's , Kaufmann's , Hecht's , The Jones Store , L. The conversion of Marshall Field's in Chicago has been 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 strongly resisted the change from Kauffman's most due to the local parade that the store had run for years. The loss of local mainstays, such as Famous-Barr in St.

Louis and Filene's in Boston , were also met with criticism, but they were not nearly as vocal as Marshall Field's. One of the consequences of this rebranding is that several malls have two Macy's stores.

What is the ticker symbol for Federated Department Stores

In Downtown Boston, Federated liquidated an acquired Filene's because it already had a Macy's formerly a Jordan Marsh across the street. On November 17, , the bridal and formal unit was sold. After Hours Formalwear was sold to Men's Wearhouse. On February 27, , Federated announced that its board of directors would ask shareholders to change the company's name to Macy's Group, Inc.

By March 28, 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, The name took effect on June 1, 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 the company toward the Macy's nameplate.

In April, , Moody's Investors Service said that it may downgrade Macy's Inc. A rating of BBB- is one notch above junk status. On Wednesday, February 6, , Terry Lundgren announced the localization strategy and the company's plan to shed 2, jobs. This new localization strategy is known as "My Macy's. Employees of the Macy's North headquarters office in Minneapolis , 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. On February 2, Macy's announced the elimination of 7, jobs, or 4 percent of its work force, and slashed its dividend as it looked to lower expenses as part of major restructuring. Cincinnati -based Macy's Inc. The cuts will include some unfilled jobs. 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 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. On October 14, , Macy's Inc. Its doors opened at 8 p. As of February [update] , Macy's Inc.

M stock quote - Macy's Inc Common Stock price - gepahotalefi.web.fc2.com

It also announced plans to open 6 additional Macy's Backstage locations. From Macy's had closed 52 stores and opened From Wikipedia, the free encyclopedia. This article is about the former Federated Department Stores. For its chain of department stores, see Macy's. Clothing footwear accessories bedding furniture jewelry beauty products housewares.

United States Securities and Exchange Commission. Global Powers of Retailing , January , at pp. Retrieved 15 October Retrieved 26 February Business data for Macy's, Inc.: Finance Reuters SEC filings.

Lundgren Fred Lazarus, Jr. Simon Lazarus Rowland Hussey Macy Isidor Straus Nathan Straus. Glamorama Macy's Great Tree Macy's Thanksgiving Day Parade My Macy's Holiday Parade.

Macy's Herald Square Miracle on 34th Street. Retrieved from " https: Retail companies established in Companies based in Cincinnati Companies listed on the New York Stock Exchange Clothing retailers of the United States Holding companies of the United States Private equity portfolio companies Macy's, Inc.

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