In its over 180 years in service, Macy’s has quickly become associated with pure Americana. From humble dry goods store beginnings in New York City, Macy’s redefined the department store experience by tailoring offerings and integrating dining spaces and festive window displays. Its popular traditions, like the Macy’s Thanksgiving Day Parade and the Fourth of July firework display are now a integral part of American retail culture.
But lately it hasn’t been easy for the iconic brand. Struggling sales and closure of stores pushed it to undertake a major business overhaul. This includes years of store closures and mass layoffs as efforts continue to correct course, culminating in this year departure of industry veteran Jeff Gennette and CEO appointing of Tony Spring last March.
Today, reports of a possible $5.8 billion buyout bid to take Macys private has added additional uncertainty to its story. As we examine Macy’s meteoric climb – and wait for the latest developments – it is clear that is truly singular mark this brand has had on American retail.
