Macy’s Inc also known as R. H. Macy and Co. is a department store retailer founded in 1858 by Rowland Hussey Macy in New York City. Macy’s is the largest department store worldwide and has 660 store location as of this year. The nationwide department store has an annual Macy’s Thanksgiving Parade in New York City since 1924. As of beginning of 2017, Macy’s has cut more than 1,000 jobs and closed around 70 stores due to their decrease in store sales.
In terms of Macy’s SWOT analysis, Macy's has many strengths. Being one of the largest chain retailer worldwide, a solid market share and an excellent brand name recognition. Another strength is that the company has a high variety of merchandise and ships products to over a hundred companies globally. Exceptional customer service and high profiles to attract customers for fashionable setting. With the investment of Bloomingdale's, the company has earned a stronger customer base and superior customers.
As we know Macy’s also has many weaknesses. The first weakness is the company does not generate enough revenues and has limited brand recognition globally. The company lacks in online and international marketing. One of its biggest rivals is Amazon, which is now dominating the market. Due to strong competition, the market …show more content…
With the economy slowing down it makes people spend less, which affects the business. After looking at the income statement the company had a decrease of revenues about 3.5%. The operating incomes EBIT decreased by 28.5% in year 2016 compared to 2015. The main reason Macy’s closed non-performing stores is the huge decrease in income causing the company to lose revenue. The company has repurchased it common stock, which is an indication that they feel that their stock is at a good