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Analyze a Major Retailer - Term Paper Example
Author : myrtlenitzsche
Pages 10 (2510 words)
INTRODUCTION Macy’s, America’s leading departmental store retailer, has a rich history dating back to 1858 when it was started as a small, dry-goods store by Rowland Hussey Macy's (Macy’s, 2011). At that time, no one would have guessed that the store would grow on to become one of the largest department store retailers…
Over the years, Macy’s continued success saw the company open regional stores and take over other retailers to increase its presence in the market (Macy’s, 2011) \. Way back in November 25, 1929, another revolution was being made in American retail when Abraham & Straus of Brooklyn, Filene's of Boston, F&R Lazarus & Co. of Columbus, OH, and Bloomingdale's of New York combined together to form Federated Department Stores, Inc. which was later renamed Macy's, Inc. in June 2007(Macy’s, 2011). Each of these retailers had marked and prominent presence in the market with the backing of their rich history. The company grew to be one of the biggest retailers in the company and acquired other stores and retailers in the coming years. It had its own ups and down but in the 1990’s, Federated Department Stores acquired Macys to form Macy’s Inc. Macy's, Inc. is the owner of both Macy's and Bloomingdale's department stores (Macy’s, 2011). As Fuhrmann (2011) adds, with an annual 2010 sales of $25 billion, Macy’s currently serves its customers in over 800 stores throughout the country and specializes in retail clothing, fashion accessories such as jewellery, handbags and shoes along with household items such as furniture and kitchen items. ...
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