Macy's - statistics and facts

Macy’s is one of the largest department store chains in the United States and the world, selling apparel, home, beauty, accessories, and more. Alongside the brand Macy’s, there are also the brands Bloomingdales and Bluemercury. Macy’s is a New York City institution, with its headquarters and flagship store located on Herald Square in Manhattan. It is not just known for its shopping. It holds popular events, such as the annual Macy’s Thanksgiving Parade, which has run since 1924, and the Fourth of July fireworks show.

However, Macy’s fame and status have not been able to entirely protect it from the problematic retail conditions that have faced department stores over the past years. Department store sales in the United States have been steadily falling since the start of the millenium and reached new lows during 2020 when the impact of the coronavirus (COVID-19) pandemic meant that many stores had to close temporarily. While several department store chains had to file for bankruptcy, Macy’s survived this challenging time, though not unscathed, and looked to rebuild in 2021.

Financial Performance

With the exception of 2020, Macy’s net sales have remained relatively constant, hovering around the mid-20 billion U.S. dollar mark. The product category that earns Macy’s the most money is women’s fashion, especially accessories, shoes, intimate apparel, cosmetics, and fragrances. In 2021, this category brought in over 10 billion U.S. dollars in revenue. Overall in 2021, Macy’s generated a gross profit of 9.5 billion U.S. dollars, which translated to a net income of 1.4 billion dollars.

Competitors

Other department store chains which operate in the U.S. and compete with Macy’s are Nordstrom, Kohl’s, and Dillard’s. Nordstrom is seen as a luxury department store retailer selling high-end goods and has the highest sales per store of these department stores. Kohl’s leads the standings when it comes to the total number of department stores of each company. That being said, Macy’s takes first place in terms of net sales. This is also true for the rankings of department stores’ online sales. In fact, macys.com was the second highest-earning online fashion store in the United States in 2021, even generating higher e-commerce sales than specialist clothing retailers, such as Shein and GAP.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by P. Smith, May 11, 2022

Key insights

U.S. department store sales in 2021
133.49bn USD
Estimated number of department stores in the U.S.
5,977
Macy's net sales
24.4bn USD
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Apparel market in the U.S.
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Department stores in the U.S.
Department stores in the U.S.
Department stores in Canada
Department stores in Canada
Omnichannel retail in the United States
Omnichannel retail in the United States
Retail store closures in the United States
Retail store closures in the United States

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