Macy's, originally R. H. Macy & Co., is a mid-range chain of department stores owned by American multinational corporation Macy's, Inc. It is one of two divisions owned by the company, with the other being the upscale Bloomingdale's. As of January 2014, it operates 850 department stores locations in the continental United States, Hawaii, Puerto Rico, and Guam, with a prominent Herald Square flagship location in Midtown Manhattan, New York City.
Macy's is known for its niche in popular culture and the diversity of its merchandise. It competes with Belk, Bon-Ton, and Dillard's; more upscale facilities compete with Nordstrom, Neiman Marcus, Lord & Taylor, and Saks Fifth Avenue. Macy's has conducted the annual Macy's Thanksgiving Day Parade in New York City since 1924, and sponsored the city's annual Fourth of July fireworks display since 1976. Macy's flagship store on Herald Square is advertised as the largest in the world, and draws shoppers from well beyond the New York City Metropolitan Area. The venue is in close proximity to other Manhattan landmarks, including the Empire State Building, Koreatown, Pennsylvania Station, and Madison Square Garden.
As of 2012, Macy's is the largest U.S. department store company by retail sales and is the 16th-largest retailer in the United States in 2013 in terms of revenue.