Macy’s (originally R. H. Macy & Co.) is an American retailer founded in 1858 by Rowland Hussey Macy. Macy’s became a division of Cincinnati’s Federated Department Stores in 1994, through which it is affiliated with Bloomingdale’s department store chain. The holding company was renamed Macy’s, Inc. in 2007. By retail sales, Macy’s was the largest U.S. department store company in 2015. As of 2017, the company had 130,000 employees and a revenue of $24.8 billion.
Macy’s has hosted the Macy’s Thanksgiving Day Parade in New York City since 1924 and has sponsored the city’s annual Fourth of July fireworks display since 1976. One of the largest department stores in the world is Macy’s Herald Square. With approximately 1.1 million square feet of retail space and additional space for offices and storage, the flagship store occupies almost a full block in New York City and serves as the endpoint for the Thanksgiving Day parade. Herald Square is estimated to be worth approximately $3 billion.
