Macy's, Inc. operates about 880 stores in 45 states, Guam, Puerto Rico, and Washington, DC under the names of Macy’s, Bloomingdales, Bloomingdale’s Outlet, Macy’s Backstage, and Bluemercury. The company's stores sell men's, women's, and children's apparel and accessories, cosmetics, and home furnishings, among other things. Macy's also operates the macys.com and bloomingdales.com websites. Macy's flagship store in Manhattan's Herald Square is the world's largest. The Macy's Thanksgiving Day Parade, started in 1924, is an annual rite.
Sales and Marketing
Macy's spends heavily across multiple media, including print, television, direct mail, and more, to drive traffic to its stores and websites.
The company reported more than $27 billion in revenue for fiscal 2015. However, that was a decrease of about $1.1 billion compared to the $28.1 billion Macy's claimed in revenue during the previous fiscal period.
Macy's announced closure of 175 North American stores in 2015. During 2016 the company plans to execute a series of cost-efficiency and process improvement measures aimed at reducing its expenses by approximately $400 million. At the same time Macy's plans to invest in growth strategies, particularly in omnichannel capabilities at Macy’s and Bloomingdale’s.
Mergers and Acquisitions
In fiscal 2015 Macy’s acquired luxury beauty products and spa services retailer Bluemercury, Inc. for about $210 million. Bluemercury was the company's first acquisition in 10 years.