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Rowland Hussey Macy founded the original R.H. Macy & Co. dry goods store in 1858, establishing the foundation of the department store giant, though his first three retail ventures failed leading up to the success of Macy's.
With innovative marketing tactics like Embedding Macy's in popular culture through sponsorships, Macy built the small dry goods store into a thriving Herald Square flagship, though personal setbacks like Bright's disease led to his early death in 1877, leaving his legacy to be carried on by successive leaders.
The company named for Macy endured bankruptcies and changes in leadership over the decades, but lives on under the Macy's, Inc. banner as one of America's most iconic department store chains.
Isidor Straus, along with his brother Nathan, purchased R.H. Macy & Co. in 1895, ushering in a period of growth and modernization that established Macy's as a leading New York retailer through pioneering marketing tactics before his tragic death in 1912 aboard the Titanic.
Though he perished in the famous sinking, his partnership with Nathan ensured the continued success of Macy's in the decades after his passing, and the Straus name remains a prominent part of the company history.
Isidor Straus's innovations and business acumen steered Macy's rise to prominence at the turn of the 20th century, cementing his legacy as one of the most impactful leaders in the company's history.
Along with his brother Isidor, Nathan Straus co-owned R.H. Macy & Co. from 1895 to 1929, shepherding the company through a period of immense growth from a single dry goods store to a burgeoning department store chain while pioneering new retail and philanthropic practices.
After Isidor's tragic death aboard the Titanic in 1912, Nathan continued expanding Macy's on his own for nearly two more decades, becoming one of New York’s leading businessmen and retailers until passing control to a new generation weeks before the 1929 Stock Market Crash that led to the Great Depression shortly after his death.
Though lesser known than his brother today, Nathan Straus's behind-the-scenes leadership and innovation as co-owner cemented Macy's future expansion in the 20th century during a nearly 35-year tenure at the company's helm.
As the grandson of founder Rowland Hussey Macy, Rowland H. Macy II assumed the presidency of R.H. Macy & Co. in 1919, steering the company through the prosperous Roaring Twenties era for over a decade before the Great Depression's onset.
While the Macy's name gave him credibility, the younger Macy struggled to maintain profits during economic decline and was forced to resign in 1932, making way for more dynamic outside leadership during a pivotal transitional period.
Though his 13-year tenure brought success and continued growth inheriting the Macy legacy, Rowland H. Macy II ultimately failed to position the company to weather Depression-era retail challenges, learning the harsh lesson that pedigree alone was not enough.
As a descendant of Isidor and Nathan Straus, Jesse I. Straus leveraged his family lineage to assume R.H. Macy & Co.’s presidency in 1938, guiding the retail giant through the uncertainty of World War II and the economic boom that followed.
Though lacking his predecessors’ entrepreneurial vision, Straus’ tenure emphasized community engagement and social responsibility while maintaining profitable growth.
His relative success led to a decade-long presidency before resigning in 1947, exemplifying how the Straus family name still carried weight in Macy’s executive leadership half a century after its founding.
Fred Lazarus Jr. was instrumental in the founding of Federated Department Stores in 1929, serving as its first President for over three decades until 1962 and pioneering retail innovations like year-round Christmas shopping seasons.
Though he helped build Federated into a national department store empire through mergers and acquisitions, Lazarus struggled to maintain dominance during a challenging era that saw bankruptcies and fierce competition from rival chains.
As Federated’s first leader, however, Lazarus established a foundation later built upon to transform the company into the retail giant known today as Macy’s, Inc.
Succeeding his second cousin Fred Jr., Ralph Lazarus took the reins of Federated Department Stores in 1962, serving as Chairman & CEO for over a quarter century during a pivotal era that saw unprecedented growth, acquisitions of major retailers, and fending off hostile takeovers that challenged the company's future.
Though spearheading Federated’s successfully fought attempted buyouts from Campeau Corp. and R.H. Macy & Co. in the 1980s, economic struggles later forced Lazarus into retirement in 1988—but not before establishing Federated as a dominant force in American retail.
Guiding Federated to national prominence during the postwar Baby Boom's explosion of consumer culture, Ralph Lazarus proved that his cousin Fred had chosen a worthy successor who helped transform Federated into the corporate titan later known as Macy’s, Inc.
Edward Finkelstein took over the reins of the struggling R.H. Macy & Co. in 1986, attempting an aggressive takeover of rival Federated Department Stores in 1988 that ultimately failed but presaged his own company's bankruptcy just four years later.
Though the ambitious Finkelstein era saw him triumphantly fend off acquisition attempts by Campeau Corp., his risky investments backing the Federated takeover bid forced Macy's to declare Chapter 11 bankruptcy in 1992, costing Finkelstein his job.
Despite high hopes of creating a national retail conglomerate combining Macy's and Federated during his short tenure, Finkelstein’s gambit backfired mightily, forever marrying his reputation by leading Macy’s into financial insolvency and takeover by the very company he had failed to conquer.
Brought in to lead R.H. Macy & Co. after Edward Finkelstein's disastrous tenure resulted in bankruptcy, Allan Tessler righted the ship as Chairman in 1992 by shedding unprofitable divisions and stabilizing finances, though his cost-cutting measures proved unpopular with customers and employees.
While restoring solvency, Tessler failed to restore the company to its former glory or competitive position in an increasingly challenging retail climate led by the resurgent Federated chain Macy's once tried unsuccessfully acquiring.
Seen as an interim steward tasked with trimming costs through mass layoffs and store closures until Federated ultimately acquired Macy's in 1994, Tessler led important reforms but his tenure is largely viewed as a painful transitional necessity between two eras of ownership.
As longtime CEO of Federated Department Stores and its eventual successor Macy's, Inc., Terry Lundgren spearheaded game-changing acquisitions like the May Company and consolidation of brands under the Macy's banner while proactively positioning the company for 21st century retail competition in his 15 years at the helm.
Though Macy's market share and performance declined in his later years amidst a rapidly shifting retail landscape, Lundgren's visionary leadership laying the groundwork for omnichannel sales and reinvention of the venerable department store model remains integral to the company's current strategy.
Regarded as the architect of modern Macy's, Lundgren's legacy is defined by absorbing rivals into a national retail powerhouse, risky gambles aimed at ensuring relevance in a digital era, and breathing new life into one of America’s oldest department store chains.
Since taking over as Macy's, Inc. CEO in 2017, Jeff Gennette has worked to reverse shrinking profits and market share in the increasingly competitive retail sphere by capitalizing on Terry Lundgren’s vision for omnichannel integration while eliminating redundancies through cost-cutting measures.
While steadying short-term performance through layoffs, real estate sales, inventory reduction, and debt relief, Gennette also invested in high-potential markets like off-price stores, e-commerce sales, and digital storefronts in pursuit of long term-relevance and growth.
Though the storied brand continues struggling to resonate with modern consumers, Gennette’s early strategic moves to balance stabilizing finances and innovating for the future will define his ability to successfully lead an evolving Macy’s adapting to retail’s new realities going forward.
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