Ownership and Evolution of Macy's: A Comprehensive Guide

Macy's, one of the largest department stores in the United States, has a rich and complex history of ownership and evolution. As of 2023, Macy's Inc. is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol M. This means that it is owned by its shareholders, which include both individual and institutional investors.

Ownership Structure and Shareholding

Macy's Inc. is a subsidiary of Macy's Inc., a holding company that also owns other retail brands such as Bloomingdale's and Bluemercury. The largest shareholders of Macy's Inc. typically include investment firms and mutual funds, but specific ownership can change frequently due to stock transactions. For the most accurate and up-to-date information, you would typically look at the latest filings with the Securities and Exchange Commission (SEC) or financial news sources.

Key Ownership Details:

Listed on NYSE: Macy's Inc. is listed on the New York Stock Exchange under the ticker symbol M. Shareholders: Individual and institutional investors. Data Source: SEC filings, financial news.

Founding and Early History

Macy's was founded by Rowland Hussey Macy. He opened his first store in New York City in 1858 and adopted the red star as his logo, which he had as a tattoo from his days as a sailor. Over the years, Macy's has undergone significant changes in ownership and branding, reflecting broader trends in the retail industry.

Ownership Evolution and Rebranding

The ownership and branding of Macy's have undergone several transformations, with the most significant being its acquisition and subsequent rebranding. In 2006, Macy's was part of Federated Department Stores, another large retail chain. Federated Department Stores was a holding company that owned a number of other department stores, including The May company and Famous-Barr.

Key Rebranding Details:

2006 Acquisition: Macy's became part of Federated Department Stores. 2007 Rebranding: Federated Department Stores rebranded itself into Macy's Group. Significant Changes: Federated closed down several stores, rebranded others, and consolidated operations under Macy's.

The rebranding was part of a broader strategy to streamline operations and enhance brand recognition. This change affected the management structure, with the previous CEO of Federated Department Stores becoming the CEO of Macy's as a result of the rebranding.

Current Ownership and Operations

Today, Macy's Inc. continues to hold a prominent place in the retail landscape. The flagship store, Macy's Herald Square, remains a landmark in New York City, continuing to offer a wide range of products:

Products: Clothing, footwear, accessories, bedding, furniture, jewelry, beauty products, housewares. Revenue: Approximately $24.97 billion in 2018. Parent Company: Macy's Inc. Subsidiaries: Macy's Furniture Gallery.

Key Current Operations:

Ownership: Macy's Inc. as a holding company, with subsidiaries including Macy's Furniture Gallery. Revenue: Significant revenue generated from diverse product categories. Brand Recognition: The Macy's brand is recognized for its comprehensive product range and high-quality retail experience.

Services and Technologies: Many software tools used in Macy's locations still bear the names of Federated Department Stores, reflecting the historical integration.

Conclusion

Macy's has a storied past, marked by significant ownership changes and rebranding efforts. Its evolution from Macy's to Federated Department Stores and back to Macy's reflects broader trends in retail and commercial real estate. As a publicly traded company, Macy's is owned by a diverse group of shareholders, with shareholding details constantly evolving. Understanding its ownership history provides valuable insight into the retail landscape and the challenges and opportunities faced by large department store chains.