Management buyout

In 1986 Edward Finkelstein, Chairman & CEO of R.H. Macy & Co., Inc., led a leveraged buy-out of the company and subsequently engaged in a takeover battle for Federated Department Stores, Inc., in 1988 that he lost to Canada's Campeau Corp. As part its settlement with Campeau, Macy's purchased Federated's California-based, fashion-oriented Bullock's and its high-end Bullocks Wilshire and I. Magnin divisions. It followed with a reorganization of its divisions into Macy's Northeast (former Macy's New York and Macy's New Jersey), Macy's South/Bullock's (Macy's Atlanta stores plus Macy's New York's operations in Texas, Florida and Louisiana), and Macy's California, the later including a semi-autonomous I. Magnin/Bullocks Wilshire organization. The Bullocks Wilshire stores were renamed I. Magnin in 1989.

              Subsequently, R.H. Macy & Co., Inc., filed for bankruptcy on January 27, 1992, after which point its banks brought in a new management team, which shut several underperforming stores, jettisoned two-thirds of the luxury I. Magnin chain, and reduced Macy's to two divisions; Macy's East and Macy's West.

Federated Department Stores merger

At the start of 1994, Federated began pursuing a merger with Macy's. After a long and difficult courtship, R.H. Macy & Co. finally merged with Federated Department Stores on December 19, 1994. Federated promptly shut down the remainder of the I. Magnin chain, converting several to Macy's or Bullock's and selling four in Carmel, Beverly Hills, San Diego and Phoenix to Saks Fifth Avenue. Federated also merged its Abraham & Straus/Jordan Marsh division with the new "Macy's East" organization based in New York, renaming the Abraham & Straus stores in metropolitan New York with the Macy's nameplate in 1995, and then erasing the Jordan Marsh moniker in New England in early 1996.

Divisions

Some of Macy's Divisions:-

Macy's East : headquartered in New York

Macy's Florida : headquartered in Miami (formerly Burdines)

Macy's Midwest: headquartered in St. Louis

Macy's North: headquartered in Minneapolis

Macy's Northwest: headquartered in Seattle (formerly The Bon Marché)

Macy's South: headquartered in Atlanta (formerly Macy's Central)

Macy's West: headquartered in San Francisco

Reference: www.wikipedia.com