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55-397: Sanger–Harris of Dallas, Texas, was the result of the 1961 merger of then four-unit Sanger Brothers Dry Goods Company of Dallas, founded in 1868 by the five Sanger brothers and acquired by Federated Department Stores in 1951; and the two-unit A. Harris and Company of Dallas, founded in 1887 and acquired by Federated in 1961. In 1965 the company built a new downtown Dallas store to replace

110-561: 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. Macy's Inc. decided to close the Bloomingdale's at the Mall of America in Minnesota . Since 1994, Bloomingdale's had been one of the 4 anchor stores of

165-430: A department store holding company for F&R Lazarus & Company (including its Cincinnati division, then known as Shillito's ), Abraham & Straus , and William Filene's Sons of Boston. In 1930, Bloomingdale Brothers of New York joined. In the mid-1930s, a modern merchandising standard was set when Fred Lazarus Jr. arranged garments in groups of a single size with a range of style, color and price, basing

220-539: A deterioration in the company's operating and credit metrics. The domain macysinc.com attracted at least 3 million visitors annually by 2008, according to a Compete.com survey. On Wednesday, February 6, 2008, Terry Lundgren announced the localization strategy and the company's plan to shed 2,550 jobs. This new localization strategy is known as "My Macy's." Employees of the Macy's North headquarters office in Minneapolis ,

275-448: A high-profile battle, with Macy's (at that time not part of Federated, but a rival), also submitting competitive bids of over $ 6 billion. Nonetheless, in April 1988, Federated gave in and agreed to a $ 6.6 billion takeover by Campeau. It was the largest merger in corporate history, barring the oil sector. Macy's paid Campeau $ 1.1 billion to acquire the 20-store Bullock's / Bullocks Wilshire and

330-635: A new logo that once again branded the stores Abraham & Straus. The company opened a central distribution center which decreased the amount of non-selling space needed in each store. In 1978, the firm opened the first of its more upscale stores at the Monmouth Mall in Eatontown, New Jersey . This was followed by stores in White Plains, New York , in 1980, The Mall at Short Hills in New Jersey , in 1981, and

385-505: A replacement for the chain's Babylon, Long Island store at Westfield Sunrise Mall. In 1981 and 1982, the chain opened two stores at malls in the suburban Philadelphia market, The Court at King of Prussia and Willow Grove Park Mall . These new stores struggled to find their niche, and the two Pennsylvania stores were closed in 1987 and 1988, respectively, and the space became occupied by Philadelphia-based Strawbridge and Clothier . The Short Hills, New Jersey store seemed out of place in

440-606: A safety hazard, Abraham & Straus had to move the Living Mannequins inside the store or face a stiff penalty from the city. Despite this change, the crowds still came. Each season, the young mannequin models would be allowed to move in order to do an in-store runway show for the Designer de Jour. Although it was the 1970s, the store did not feature polyester suits or non-designer outfits in these shows. Unlike countless numbers of downtown department stores that have closed throughout

495-610: A very exciting future for Macy's and Bloomingdale's" said Terry J. 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

550-443: Is an American holding company of department stores . Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus , Lazarus , Filene's , and Shillito's . Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over Macy's ,

605-630: Is now hidden on the Sanger–Harris Building in Downtown Dallas but the white columns are still visible and the building is still a Downtown Dallas landmark. Most of the former Sanger–Harris branch stores still feature this design today. Strawbridge's added to division in 1996 Meier & Frank added to division in 2002 ; Zion's Cooperative Mercantile Institution (2001, to Meier & Frank) Federated Department Stores Macy's, Inc. (previously Federated Department Stores, Inc. )

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660-534: The Foley's division; the combined division was sold to The May Department Store Company the next year. Most locations are now Macy's since 2006 when Federated Stores bought out The May Department Stores Company in 2005. Sanger–Harris stores are known for their column and mosaic architecture. The first building to feature the white columns and mosaic is the Downtown Dallas store. The Sanger–Harris branch stores that were built after 1965 all feature this design. The mosaic

715-452: The Macy's masthead and a few to the Bloomingdale's name. One of the consequences of this rebranding is that several malls have two Macy's stores. In downtown Boston, Federated liquidated an acquired Filene's because it already had a Macy's (formerly a Jordan Marsh) across the street. The two stores have a combined floorspace of more than 1,400,000 square feet (130,000 m ), more than two-thirds

770-611: The RMS Titanic . Around 1915, after Abraham's daughter married Isidor's son Percy Selden Straus, the Straus family divided up the empire with Nathan's family running A&S and Isidor's family running Macy's. Beginning in 1928, the company embarked on a $ 7.8 million expansion of the Fulton Street Store, which included excavating a new basement without disturbing customers above. The renovated store opened October 10, just days before

825-516: The Wall Street Crash of 1929 . In the summer of 1929, the company joined Filene's and Lazarus to form Federated Department Stores . Bloomingdale's joined the following year. To economize during the Depression , the company began scheduling employees according to hourly sales. In addition, all employees took a 10 percent pay cut. No employees were laid off. In 1937, Walter N. Rothschild led

880-729: The old store's venerable name. Macy's, Inc. owns the department store chains Bloomingdale's and Macy's , and beauty store chain Bluemercury , all of which operate flagship stores in Manhattan . As of October 2022 , it operates 722 locations in the United States , Guam , and Puerto Rico . The company was the world's largest fashion goods retailer and the 36th-largest retailer overall in 2010. Macy's, Inc. has been headquartered within Macy's Herald Square in New York City since 2020, and

935-401: The 25-store specialty apparel chain I. Magnin . Two years later, Federated filed for bankruptcy after Campeau failed to refinance the debt of Federated and Allied Stores Corp. In 1992, Campeau was ousted and Federated emerged from bankruptcy as a new public company, Federated Stores, Inc. , dropping the word "Department" from the previous company. As part of the reorganization, Federated sold

990-686: The Federated Department Stores corporate umbrella for the first time since 1988. Federated announced plans to sell 80 store locations in 2006, 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 January 12, 2006, Federated announced its plans to divest May Company's Lord & Taylor division (48 stores in 12 states) by

1045-557: 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. By 2009, the company expected to save $ 100 million (equivalent to $ 142 million in 2024) a year from the cuts. On February 2, 2009, Macy's announced

1100-506: The Ralphs chain to a group of owners led by Edward J. DeBartolo Corporation . Also in 1992, Macy's declared bankruptcy; Federated acquired it two years later, in 1994. The name of the once-main-rival of Federated, Macy's, would soon become the consumer-facing identity of most of Federated's stores. In 1995 Federated bought Broadway Stores, Inc. and its California-based Emporium-Capwell , Weinstock's and The Broadway chains. Macy's changed

1155-675: The beginning, the company had high aspirations. In 1885, the company hired architect George L. Morse to work on the Fulton Street store in Downtown Brooklyn . For their 1928 to 1930 renovations and additions, the company hired architects Starrett & van Vleck to build an Art Deco addition that faced Fulton, Hoyt, and Livingston Streets. In 2003, the Brooklyn Heights Association and the Municipal Art Society put

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1210-711: The building on a list of 28 historic buildings in downtown Brooklyn that needed to be protected. In the mid-1970s, Abraham & Straus' flagship store made mannequin modeling famous. Linda Timmins, head of the division, selected one juvenile and ingénue with "The Editorial Look" from each of the high schools across Brooklyn and Manhattan. The schools and their students were also selected for high academic standing; Manhattan Performing Arts High School student Yvette Post, Metropolitan Opera juvenile star Robert Westin, Brooklyn's Abraham Lincoln High School 's Alan Jay Kahm and head cheerleader Paula Gallo, as well as Maria Russo of Catherine McAuley High School (Brooklyn) were some of

1265-476: The buyout was the bridal and formal unit of May, consisting of David's Bridal and After Hours Formalwear . Federated would also assume $ 6 billion (equivalent to $ 9.36 billion in 2024) of May's debt, bringing total consideration to $ 17 billion (equivalent to $ 26.5 billion in 2024). The deal would create the nation's largest department store chain with over 1,000 stores and $ 30 billion (equivalent to $ 46.8 billion in 2024) in annual sales. To help finance

1320-532: The company expanded throughout the New York metropolitan area. Among its expansions was an anchor store at Paramus Park in Paramus, New Jersey , which necessitated the building of an access road that, despite the conversion of the store to Macy's, is still today known as A&S Drive. In the 1970s, Federated attempted to update the image of A&S and funded the construction of new, more upscale stores. A&S developed

1375-420: 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, 2007. The name took effect on June 1, 2007. The 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

1430-720: The company toward the Macy's nameplate. "Today, we are a brand-driven company focused on Macy's and Bloomingdale's, not a federation of department stores," Lundgren said in the company's press release heralding the proposed name. Upon the change to Macy's Inc., Federated's stock ticker symbol on the New York Stock Exchange changed from "FD" to "M", making the new Macy's Inc. one of a handful of single-letter ticker symbol companies. In April 2008, Moody's Investors Service said that it might downgrade Macy's Inc. bonds to just above junk status. That same month, Fitch Ratings downgraded their bond credit rating to BBB− from BBB, noting

1485-454: The company, and was president and chairman until 1955. Following Rothschild, Sidney L. Solomon became the company's first non-family president. At the time, the company had 12,000 employees. After World War II – The company grew. In 1950, the company purchased Loeser's Garden City store, and two years later, its first new branch store opened in Hempstead, New York . In the following decades,

1540-622: The deal, Federated agreed to sell its combined proprietary credit card business (but still administered by FACS Group, a subsidiary of Federated) to Citigroup. The merger was completed on August 30, 2005, after an assurance agreement was reached with the Attorneys General of New York , California , Massachusetts , Maryland , and Pennsylvania . As a result of the merger, Federated also in the process reacquired two of their former department store chains Foley's & Filene's (Which Federated originally sold to May Company), putting them back under

1595-470: The elevator bank in the middle of the street floor continues to evoke hints of this building's elegant past. The passenger elevators at this location were among the last in all of New York City to be converted from manual operator to automatic use. Macy's has continued to reaffirm its commitment to this location. On July 16, 2014, Women's Wear Daily ' reported that Macy’s had stopped the renovation of its Brooklyn flagship while it considered possibly selling

1650-504: The elimination of 7,000 jobs, or 4% of its workforce, and slashed its dividend as it looked to lower expenses as part of a major restructuring. Cincinnati -based Macy's Inc. stated that the workforce reduction included positions in offices, stores, and other locations, and the cuts include some unfilled jobs. "Reducing our workforce is an unfortunate outcome of the current economic environment, and I am frustrated that so many of our people will be unable to move forward with us as we proceed into

1705-650: The end of 2006 after utilizing prime and conflicting real estate by closing and converting several locations. On June 22, 2006, Macy's announced that NRDC Equity Partners , LLC would purchase Lord & Taylor for US$ 1.2 billion (equivalent to $ 1.81 billion in 2024), and completed the sale in October 2006. On September 9, 2006, the former May Company store names Famous-Barr , Filene's , Foley's , Hecht's , The Jones Store , Kaufmann's , L. S. Ayres , Marshall Field's , Meier & Frank , Robinsons-May , and Strawbridge's disappeared as Federated switched most of them to

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1760-452: The few selected to represent the youth of New York. These "Mannequin Models" would pose for up to an hour at a time in the windows of the store as "Living Mannequins", wearing classic designer clothes and current fashions designed by Nik Nik, Pierre Cardin , and other top designers and exclusive prêt-à-porter from upscale fashion houses. Eventually, as crowds would often stop traffic and became

1815-412: The flagship stores of the two companies and, so the business legend goes, turned down the opportunity to move into a new shopping center called NorthPark Center . During the late 1970s, the chain dropped the hyphen between 'Sanger' and 'Harris' (rumored as a way to differentiate from hometown rival Neiman-Marcus ), and continued as an upper-moderate shopping destination. In January 1987 it was merged into

1870-537: The holiday evening, and remained open for 24 hours straight until the close of business on Friday, which is usually about 10 p.m. As of February 2014 , Macy's Inc. is valued at US$ 28 billion. In September 2015, Macy's announced it would close 40 stores, 5% of its total stores in early 2016. It also announced plans to open 6 additional Macy's Backstage locations. From 2010 to 2015, Macy's had closed 52 stores and opened 12. In February 2020, Macy's announced that their headquarters in downtown Cincinnati will be closing in

1925-466: The hyphenated names were changed to simply Macy's, a rebranding process referred internally to as Project Star. The department store chain Stern's , a division of Federated, ceased operations in 2001 and most of its stores became Macy's stores. Federated began selling goods online in 1998, rather later than most contemporary large retailers; Federated ran a private bank, FDS Bank, which issued and maintained

1980-746: The last remaining family member with an official role at the company. ) In 1945, Federated moved its corporate offices to Cincinnati . The latter half of the 20th century saw the company expand nationwide, adding Rike Kumler of Dayton, Ohio (merged into Shillito's in the 1980s 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 were merged 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. Federated entered

2035-478: The lesser-known A&S brand should be eliminated. In January 1995, it was announced that all A&S locations would be converted to other brands by April 30. Most became Macy's or Stern's, but at least one location was converted to a Bloomingdale's and another was sold to Sears . The company's 841,000-square-foot Brooklyn flagship store was located at 422 Fulton Street , in the Fulton Street Mall . From

2090-490: The majority of its own consumer credit card portfolio, was one of the last credit card banks to begin to allow its cardholders to access account information online (around 2004). In 1998, Federated settled an SEC investigation for $ 14.46 million (equivalent to $ 27 million in 2024) due to unethical debt-collection practices. Federated routinely forced credit card holders/debtors to sign an agreement that legally bound them to repay their outstanding balances instead of having

2145-404: The mall, and will be replaced with a $ 30 million renovation with four new foreign clothing stores. On October 14, 2013, Macy's Inc. announced the decision to open most of their stores for the first time on Thanksgiving Day 2013, breaking a long-standing tradition of 155 years, and joined the ranks of retailers who created Gray Thursday the year before. Its doors opened at 8 p.m. (local time) on

2200-571: The nameplate of these three chains and Bullock's to Macy's, or in some cases, turned locations into Bloomingdales. In 2003, Federated changed the nameplates of almost all their remaining non-Macy's stores – the lone exception was Bloomingdales – to include the Macy's name, a rebranding internally dubbed Project Hyphen. For example, Seattle -based The Bon Marché became Bon-Macy's; Goldsmith's in Tennessee became Goldsmith's-Macy's; Lazarus, Burdines, and Rich's also added "-Macy's" to their name. A year later,

2255-478: The nation, this historic location continues as a Macy's. At 1,012,000 sq ft (94,000 m ), it is the second-largest Macy's in the New York City area. Macy's utilizes the lower level through 5th floor for retail departments, the 6th floor for seasonal merchandise and a beauty salon, and upper floors for a number of corporate departments. Display windows continue to be maintained along Fulton Street, and

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2310-417: The near future with all corporate operations relocating to New York City. This news came after a gradual pulling out of the Cincinnati area with a couple of area store closures and the retirement of a top executive. In November 2021, Macy's announced the launch of its digital marketplace, which set to debut in the second half of 2022. Macy's will partner with AlixPartners and Mirakl . In November 2023, it

2365-522: The old department store chain originally founded in 1858 by American entrepreneur Rowland Hussey Macy . Despite Federated's long history of preserving regional nameplates, its acquisition of the May Department Stores Company in 2005 marked the end of those nameplates. By the following year, both the Macy's and Bloomingdale's brands had replaced them nationwide. Ultimately, Federated itself was renamed Macy's, Inc. in 2007, an acknowledgment of

2420-401: The property, which could be worth $ 300 million (~$ 380 million in 2023) from a developer looking to turn it into condominium apartments. It had also been reported that Macy's was considering building a new Downtown Brooklyn store. By 2016, the decision was made to remain in the current location, but consolidate the space into four level floors and sell off the remaining floors. As of 2018,

2475-399: The purchase. In 1883, the firm bought the recently built Second Empire cast-iron Wheeler Building at 422 Fulton Street to be their flagship store. On April 1, 1893, Nathan Straus , Isidor Straus , and Simon F. Rothschild as partners – the Straus brothers provided the financing, but Rothschild was the active partner – bought out Wechsler, and the firm became Abraham & Straus. At

2530-407: The size of Macy's New York City flagship store. On November 17, 2006, the bridal and formal unit was sold. David's Bridal and Priscilla of Boston were sold to Leonard Green & Partners . After Hours Formalwear was sold to Men's Wearhouse . On February 27, 2007, Federated announced that its board of directors would ask shareholders to change the company's name to Macy's Group, Inc. By March 28,

2585-716: The supermarket industry in 1968 when it acquired the Ralphs chain based in Southern California. In 1982, Federated acquired the Twin Fair, Inc. discount store chain based in Buffalo, New York , and merged it with Gold Circle. In 1983, Federated sold four shopping center properties to JMB Realty . Canadian real estate developer Robert Campeau – who had taken over and dismembered Allied Stores in 1986 – attempted to take over Federated starting in early 1988 which Federated fought off in

2640-646: The technique upon observations made in Paris. As well, Lazarus convinced President Franklin D. Roosevelt that it would help American economy to change the Thanksgiving holiday from the last Thursday of November to the fourth Thursday, thus extending the Christmas shopping season. An act of Congress perpetuated the arrangement in 1941. Black Friday became a nationwide sensation and the most profitable day for Federated. (Robert Lazarus Jr. worked at Federated until he died in 2013,

2695-410: The time, the company had 2,000 employees. Simon F. Rothschild, Abraham's son-in-law, Edward Charles Blum, and son, Lawrence Abraham , became partners in the new firm. By 1900, the company had 4,650 employees. From the 1890s to the 1920s, A&S utilized a system of catalog store agencies across Long Island to serve customers. In 1912, Isidor Straus, along with his wife Ida, died in the sinking of

2750-679: The unsecured debt discharge via the filing of bankruptcy . Federated failed to file reaffirmation agreements with bankruptcy courts. As a result, the changes in the agreements were not legally binding. In 2001 Federated acquired Liberty House of Hawaii as it emerged from Chapter 11 bankruptcy . It was managed as part of Macy's West and all the store names were changed to Macy's. In 2005, Federated agreed to sell its credit card business to Citigroup . On February 28, 2005, Federated Department Stores announced that it would acquire May Department Stores company for $ 11 billion (equivalent to $ 17.2 billion in 2024) in cash and stock. Also part of

2805-466: The very upscale mall, and customers resisted what were seen to be the store's more rigid policies concerning check acceptance, inter-store transfers, and refunds. Eventually, A&S would stock the Short Hills location with merchandise that better befit the location. In 1994, Federated acquired Macy's. Since both Macy's and A&S competed for the same type of middle-income customer, Federated felt that

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2860-697: Was a major New York City department store , based in Brooklyn . Founded in 1865, it became part of Federated Department Stores in 1929. Shortly after Federated's 1994 acquisition of R.H. Macy & Company , it eliminated the A&;S brand. Most A&S stores took the Macy's name, although a few became part of Stern's , another Federated division, but one that offered lower-end goods than Macy's or A&S did. The first Brooklyn store, at 285 Fulton Street , opened in 1865 and measured 25 feet by 90 feet. Abraham Abraham , age 22, and Joseph Wechsler each contributed $ 5,000 for

2915-811: Was 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 also strongly resisted the name change from Kaufmann's, in part because of the Kaufmann family role in Pittsburgh history, as well as the central store's Christmas windows and holiday parade. Strawbridge's added to division in 1996 Meier & Frank added to division in 2002 ; Zion's Cooperative Mercantile Institution (2001, to Meier & Frank) Abraham %26 Straus Abraham & Straus , commonly shortened to A&S ,

2970-773: Was previously headquartered in Cincinnati , Ohio from 1945 until 2020. Federated Department Stores traces its corporate lineage to F&R Lazarus & Company , founded in Columbus, Ohio , in 1851. In the summer of 1929, months before the Wall Street Crash of 1929, Fred Lazarus Jr. met with Walter N. Rothschild from Abraham & Straus of Brooklyn and Edward Filene from Filene's of Boston on Rothschild's yacht in Long Island Sound. The three businessmen agreed to merge their stores and form Federated Department Stores, as

3025-466: Was reported that Arkhouse Management and Brigade Capital Management have offered to buy Macy's Inc. for $ 5.8 billion. Macy's rejected the offer in January 2024 citing the unsolicited offer to be undervalued. The investor group increased their offer to $ 6.6   billion two months later. In February 2024, Macy's announced it would close 150 stores by 2026. The conversion of Marshall Field's in Chicago

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