Swot Analysis Of Macy's

History
Rowland H. Macy first opened R.H. Macy & Co as a dry goods store in New York City in 1858 with the red star being a symbol of success from his days as a sailor. The first day’s total amount of sales was $11.06 but the first year’s total was approximately $85,000. In 1902 Macy’s needed a larger space and moved to Herald Square in New York City becoming the largest store in the world in 1924 after opening another location on 7th avenue. In this same year over 10,000 people watched Macy’s first Thanksgiving Day Parade. In 1929 Federated Departments Stores included stores such as Abraham & Straus, F&R Lazarus, Filene’s of Boston, and Bloomingdales. With the stores combined into a large company Federated stores made $112 million
was born on August 30, 1822 on the Nantucket Island in Massachusetts. At the age of 15 he worked on the whaling ship Emily Morgan and had the red star tattooed on his hand. In the years from 1843-1855 Macy opened four retail dry goods stores which included the original Macy’s store in downtown Haverhill, Massachusetts. The original Macy’s was established in 1851 to serve the mill industry employees; but all of the stores failed. After moving to New York City, Macy’s new store R. H. Macy Dry Goods was established and opened on October 28, 1858 making $11.06. As the business grew he expanded into more buildings with more departments. After Macy died on March 29, 1877 the store passed on through his family until 1895 when it was sold to new buyers Isidor and Nathan Straus, who had sold china, glassware, and silver in the basement of the Macy’s building since
H. Macy Dry Goods, he decided to buy and sell merchandise only if he could with cash. With his business growing and wholesalers offering him credit, he refused saying he only wanted cash. Macy obtained a lease for 11 neighboring buildings and created the concept of what we know today as a department store. Macy’s introduced new products including tea bags, Idaho baked potatoes, and colored bath towels. The Macy Dry Goods store was also the beginning of mail orders and a money-back guarantee was always offered to all customers. Macy was considered the master of advertising because of his development for marketing strategies such as having a store Santa Claus during the holidays, themed store exhibits, and lighted window displays to draw in customers. Having a printing industry background, Macy launched unique newspaper advertisement campaigns in five city newspapers that emphasized keywords again and again, used bold headlines, and quoted exact prices of store items which competitors had not done. Macy’s continued only accepting cash until the late 1950s when credit became