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Macy's
Macy's traces its origins to a small dry goods store opened by Rowland Hussey Macy in New York City in 1858, and it grew into one of the largest and most iconic department store chains in the country, anchored by its flagship Herald Square store in Manhattan. Macy's has produced the Macy's Thanksgiving Day Parade since 1924, an annual event featuring giant character balloons that became one of the most widely watched televised holiday traditions in the United States, giving the company a level of cultural visibility far beyond ordinary retail advertising. The Herald Square flagship store was, for much of the 20th century, promoted as the "world's largest store," and Macy's broader chain became deeply embedded in American retail history, including its central role in the classic holiday film "Miracle on 34th Street." Macy's combination of its historic Herald Square flagship and its iconic Thanksgiving Day Parade has made it one of the most culturally significant department store chains in American history.
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JCPenney
JCPenney was founded by James Cash Penney in Kemmerer, Wyoming in 1902, originally as a single dry goods store called the Golden Rule, built around a business philosophy explicitly named for treating customers as the founder would want to be treated himself. The chain grew into a major national department store brand known particularly for its middle-market positioning, offering more accessible pricing than higher-end department stores while maintaining a broader merchandise selection than discount retailers. JCPenney's widely publicized and ultimately unsuccessful 2012 attempt to eliminate coupons and sales in favor of simplified "everyday low pricing," led by former Apple retail executive Ron Johnson, became one of the most closely studied retail strategy failures in recent business history after it alienated the chain's price-conscious core customer base. JCPenney's combination of its century-long middle-market department store legacy and its widely studied 2012 pricing-strategy failure has made it one of the most instructive department store chains in American retail history.
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