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Customers’ Top-Rated Product For The Home At Macys.com!
No one would have guessed that the small, fancy dry goods store that opened on the corner of 14th Street and 6th Avenue in New York City in 1858 would grow to be one of the largest department store retailers in the country.
But after several failed retail ventures, Rowland Hussey Macy’s determination and ingenuity paid off at the age of thirty-six with the launch of R.H. Macy and Co. He adopted a red star as his symbol of success, dating back to his days as a sailor. First day sales totaled $11.06 but by the end of the first full year, sales grossed almost $90,000. By 1877, R.H. Macy & Co. had become a full-fledged department store occupying the ground space of eleven adjacent buildings.
Always the innovator, Macy’s is known for several firsts that revolutionized the retail industry. Macy’s was the first retailer to promote a woman, Margaret Getchell, to an executive position, making business history. Macy’s pioneered such revolutionary business practices as the one-price system, in which the same item was sold to every customer at one price, and quoting specific prices for goods in newspaper advertising. Known for its creative merchandising, Macy’s was the first to introduce such products as the tea bag, the Idaho baked potato and colored bath towels. Macy’s was also the first retailer to hold a New York City liquor license.
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