Macy essays

Macy essays Rowland Hussey Macy, born in 1822 was of the eighth Macy generation on Nantucket Island, Massachusetts. He was a Quaker and a descendant of Thomas Macy. When Macy was 15, he joined a whaling ship that left New Bedford in December, 1837, and returned four years later. In 1844, when Macy was 22, he opened a thread-and-needle store in Boston and, two years later, a retail dry goods store in the same city. Macy was described as a stocky, bearded veteran of hard times; he was frugal and hot tempered. He was known to flirt with the girls on buying trips to Europe. In 1847, Macy went to work for his brother-in-law, George W. Houghton, a dry goods retailer in Boston. This ended quickly when Macy decided to leave with his brother Charles to California with the Forty-Niners. With his brother Charles B. Mitchell and Edward R. Anthony, Macy formed a partnership as Macy He then returned east and opened a store in April 1851, in Haverhill Massachusetts, under the name R. B. Macy, the initials of his brother, Robert, who had started the dry good business in Boston. At Haverhill Macy started the principles that later he took to New York. Principles like advertising, buy and sell for cash policy and the one-price concept. He also gave notice of attempting to undersell all competition in 1853. Macy stayed in business in Haverhill for four years. During this time he also would go to Wisconsin as a money and real estate broker. In 1858 at age 36 he returned to New York and opened an 11-foot-front store selling ribbons, laces, embroideries, artificial flowers, feathers, handkerchiefs, hosiery and gloves at 204-206 sixth avenue on 14 street in Manhattan. First day sales were $11.06. By the end of 1859 Macys sales totaled to $90,000 and on an advertising budget of $2, 800. Within a month Macy began selling gloves and hosiery for men. By the fol...