Trade Macys - M CFD

Macy's Company profile

With over 160 years of history, Macy’s was originally called R.H. Macy & Co, after its founder, Rowland Hussey Macy. With over 90,000 employees and 725 stores, Macy’s is one of the largest American chains of departmental stores. Its products range from clothing, jewellery and housewares to beauty products. It is also the parent company of renowned brands Bloomingdale’s and Bluemercury.

Headquartered in New York, the retailer has made solid headway in taking its business digital. Macy’s operates one of the largest retail e-commerce websites.

Macy’s launched its Own Your Style creative platform on 15 March 2022, with an aim to help customers discover their individual style. Macy’s aims to connect them to products curated to elevate their personal brand. The platform will be powered through Macy’s stores, and its mobile applications and website.

On 31 March, Macy’s announced it would be opening a 1.4 million-square-foot fulfilment centre in North Carolina to support the growing demand for its products.

The company said it would invest approximately $584m in the new facility. Enriched with the automated direct-to-consumer-fulfilment capacity, this facility would effectively generate employment for approximately 2,800 workers.

On 19 May 2022, Macy’s announced that it had raised nearly $1.5m from its customers. Through its partnership with Trust For Public Land, the money is to be utilised to support the trust’s Community Schoolyards project, which involves turning barren public parks into green spaces.

Macy’s sustainable initiatives include its collaboration with Better Cotton to use sustainably sourced raw materials for its products. By 2030, it hopes to achieve 100% utilisation of preferred materials for its exclusive brand wear.

The company is traded on the New York Stock Exchange (NYSE) under the ticker symbol ‘M’.