Analyze a Major Retailer Term Paper Example | Topics and Well Written Essays - 2500 words

Analyze a Major Retailer - Term Paper ExampleOver the years, Macys continued success saw the company open regional stores and take over other retailers to increase its presence in the market (Macys, 2011) . Way linchpin in November 25, 1929, another revolution was being made in American retail when Abraham & Straus of Brooklyn, Filenes of Boston, F&R Lazarus & Co. of Columbus, OH, and Bloomingdales of New York combined together to form unite Department Stores, Inc. which was later renamed Macys, Inc. in June 2007(Macys, 2011). Each of these retailers had marked and prominent presence in the market with the backing of their rich history. The company grew to be one and only(a) of the biggest retailers in the company and acquired other stores and retailers in the coming years. It had its own ups and down but in the 1990s, Federated Department Stores acquired Macys to form Macys Inc. Macys, Inc.is the owner of both MacysandBloomingdalessurgical incision stores (Macys, 2011). As Fuhrma nn (2011) adds, with an annual 2010 sales of $25 billion, Macys currently serves its customers in over 800 stores throughout the country and specializes in retail clothing, fashion accessories such as jewellery, handbags and shoes along with household items such as furniture and kitchen items. Macys is not just a simple retailer from its traditional Macys approval Day Parade and the 4th of July Fireworks to its Annual Flower Shows and the tree lightings and animated window displays at the time of Christmas, Macys has always been in the forefront in creating its own distinctive and unique identity (Macys, 2011). Innovation at its forefront, Macys is very well known as bringing many firsts in the retail industry. Macy introduced several revolutionary business practices in the industry it initiated the one price system, in which an item was sold across the shops to every customer at one price. It also was the first company to quote prices of different products in the newspapers. Macy also made history when it assigned Margaret Getchell, the first female executive in the retail industry. It also was the first retail store in New York to hold the license to sell liquor. With its corporate philosophy revolving around the customer, Macys has always accept the importance of directing its strategies towards providing localized shopping experience to its customers. The Corporate Financial objectives of Macys, Inc. are Increasing sales Increasing profitability levels Have better heel counter on invested capital Shareholder return should be maximized (Macys, 2011). According to Fuhrmann (2011), keeping in mind the above objectives, Macys has seen an increase in sales in the year 2010 by 4.6 % as compared to the previous year while its operating income increased by 7.6% of sales in the year 2010. SWOT ANALYSIS ASWOTanalysis critically studies a companysinternal Strengths andWeaknesses in relation to the externalOpportunities andThreats it faces coming from its environme nt. To understand the environment of Macys, a SWOT analysis has been conducted. STRENGTHS alteration With the acquisitions of small retailers at all regional levels, Macys has strategically aligned and integrated diversity in all aspects of its operations. For Macys, diversity has become the most inherent and essential part of business. Macys caters to a much-diversified market and this has made it very beneficial to its customers, vendors, suppliers and business