Macy's
Corporate Headquarters: 7 West Seventh Street
Cincinnati, OH 45202
513-579-7000
NY Headquarters: 151 West 34th Street
New York, NY 10001
212-494-1602
Employees: 180,000
CEO: Terry Lundgren
Stock Symbol: M
Website:
http://www.macysinc.com
Career Page
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's largest department store retailers. The company operates 848 department stores in 45 states, the District of Columbia, Guam and Puerto Rico with 808 Macy's stores and 40 Bloomingdale's stores.
The company also operates macys.com, bloomingdales.com and Bloomingdale's By Mail.
The company was previously known as Federated
Department Stores, Inc. before changing its name on June 1, 2007.
The company's flagship store on Herald Square in Manhattan, which opened in 1902, is the world's largest store and is a unique and popular New York City destination. The company also sponsors the annual Thanksgiving Day Parade in Manhattan.
Bloomingdale's has 40 stores in 12 states
and 12,200 employees.
The Macys.com website has offices in NY and San Francisco.
In fiscal 2007, the company reported total revenues of $26.3 billion and net income of $893 million.
The company announced the national expansion of My Macy's, a program that will add merchandise geared toward local tastes in each store.
In January, Macy's announced it would close 11 underperforming stores across the country affecting 900 workers. The company said same-store sales for the month of December were down 4% from the previous year.
Macy's also said 7,000 positions are being eliminated from the company's workforce in offices, stores and other facilities this year. Most are the result of consolidating regional buying offices.
"With our new structure, Macy's now will have one unified buying organization, one unified merchandise planning organization, one unified stores organization, one unified marketing organization and one unified organization for each corporate function such as finance, logistics, information technology and human resources - instead of four of each operating divisionally," said Terry Lundgren, CEO. "By reducing duplication, we will be able to react faster to market trends, simplify our relationship with vendors and ensure that our expense dollars are devoted to activities that will drive the business most effectively."
History
Macy's history is a combination of many
great retailers forming to become one.
Rowland H. Macy opens R.H. Macy & Co.
as a dry goods store in New York City in 1858. First-day sales
totaled $11.06. First year sales would total $86,000. The Straus
family acquired a general partnership with Macy's in 1888.
In 1872, the Bloomingdale Brothers, Inc.
was founded in New York City by Lyman and Joseph Bloomingdale.
First-day sales totaled $3.68.
In 1902, Macy's moves to Herald Square
in New York City. In 1924, Macy's Herald Square location becomes
largest store in the world, following completion of 7th Avenue
addition. Also, 10,000 people watch Macy's first Thanksgiving
Day parade
Federated Department stores was born on
March 1929 through the combination of Abraham & Straus of
Brooklyn, Filene's of Boston, F&R Lazarus & Co. of Columbus,
OH and Bloomingdale's of New York. As the company emerged from
the Great Depression and World War II, Federated would experience
significant growth. New shopping malls began to sprout across
the country beginning in the 1960s and these centers would greatly
expand Federated sales as it became anchor tenants in the malls.
Federated acquired May Department Stores
in 2005. In September 2006, 400 former May stores around the
country converted their names to Macy's. These regional stores
include Marshall Field's, Filene's, Hecht's/Strawbridge's, Kaufmann's
and Robinsons-May.
The company today operates only Macy's
and Bloomingdale's stores, with both brands expanding nationwide.
The company sold the Lord and Taylor chain
in 2006 to a private equity firm for $1.195 billion in cash.
Federated also sold off its bridal division made up of David's
Bridal and Priscilla of Boston for $850 million. The sale includes
273 David's Bridal stores and 10 Priscilla of Boston locations.
Federated also unloaded its 507-store After
Hours Formalwear business, which includes Mr. Tux stores in New
England, to Houston-based Men's Wearhouse for approximately $100
million.
The company became Macy's Inc. in June
2007.
Benefits
The following info is for corporate employees:
Medical and Dental Benefits
It's a simple principle - we help keep you healthy; you help
keep us strong. With a variety of medical/dental plans and options,
you are sure to find one that's right for you and your family.
Domestic Partner Benefits
We recognize non-traditional family units, and provide health
care benefits options to meet those needs
Short-Term Disability
For life's unexpected speed bumps, we provide short-term disability
benefits. Through this program, you are eligible to receive income
protection in the event of an illness or injury.
Group Travel Insurance
Take comfort in knowing that your family is protected. Our group
travel insurance program means one less worry.
Optional Life Insurance, Accidental Death & Dismemberment
and Long Term Disability are also available.
Health Care Flexible Spending Account
Use pre-tax dollars to take care of those expenses not covered
by health or dental insurance.
Profit Sharing 401(k) Investment Plan
This is the most enriching form of retirement savings a company
can offer. Upon qualifying for enrollment, contributions may
be made on a pre-tax or after-tax basis. And of course, the plan
includes a generous annual company match.
Cash Account Pension Plan
A 100% company-paid program that provides you with a level of
additional savings for retirement.
Macy's, Inc. Credit Union Membership
Meet all of your banking needs through membership in the New
Horizons Credit Union - available to all Macy's Corporate Services'
associates and their families.
Direct Deposit
Your paycheck can be automatically deposited into your bank account
for your safety and convenience.
Tuition Reimbursement
Have up to 100% of the cost of your eligible college classes
paid for through our tuition reimbursement program.
Dependent Care Spending Account
Set aside pre-tax dollars each month to pay for the cost of child
or elder care.
Flexible Transportation Program
Elect to have money deducted pre-tax each month to pay for parking
or public transportation.
Paid Vacation and Holidays
Everyone needs a break. We know that your job satisfaction hinges
on a reasonable work/life balance. Our liberal vacation and holiday
policies encourage you to get away and enjoy life.
Employee Assistance Program
This confidential service allows you to manage some of life's
most stressful times by providing you with consultation, referrals,
and educational materials.
Community Service
One surefire way to make your life more meaningful is to get
involved in the lives of others. Our Partners in Time volunteerism
program will help you do just that.
Business Casual Dress
Our business casual dress policy - 5 days a week - helps create
a relaxed, yet professional atmosphere.
Alternative Work Schedules
Take the opportunity to integrate work with personal and family
needs by working a flexible schedule, a part time schedule or
job-sharing with an associate in your work area.
Summer Work Hours
Enjoy a longer weekend by condensing your workweek during selected
weeks of the summer.
Regular employees qualify for a 20% discount
on most merchandise sold in
Macy's.
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