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.
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Research expert covering apparel industry and general merchandise