Founded in 1858 by Rowland Hussey Macy, Macy’s has spent over a century and a half perfecting the art of retail theatrics and consumer indulgence. Known for its colossal flagship store on Herald Square—where you can still find an unnervingly large number of tourists crowding around to marvel at the opulent window displays—Macy’s is also synonymous with the Macy’s Thanksgiving Day Parade, a spectacle that keeps New York City feeling just a touch more commercial each year. The company’s defining moment came in 1924 when it inaugurated the parade that would become a national institution. Valued currently at about $10 billion, Macy’s has seen its share of ups and downs, from market dominance to financial crises. Its recent struggles to maintain relevance in a digital age have led to a series of store closures and layoffs, adding to its reputation as the retail equivalent of a once-great empire now crumbling under the weight of e-commerce. CEO Jeff Gennette is tasked with the Sisyphean job of reviving the retail giant’s fortunes, making Macy’s a curious study in retail resilience and nostalgia.
