No one would have guessed that the small, fancy dry goods store
that opened on the corner of 14th Street and 6th Avenue in New
York City in 1858 would grow to be one of the largest department
store retailers in the world. But after several failed retail
ventures, Rowland Hussey Macy's determination and ingenuity paid
off at the age of 36 with the launch of R.H. Macy & Co. He
adopted a red star as his symbol of success, dating back to his
days as a sailor. First-day sales totaled $11.06 but by the end
of the first full year, sales grossed almost $90,000. By 1877,
R.H. Macy & Co. had become a full fledged department store
occupying the ground space of 11 adjacent buildings. Always the
innovator, Macy's is known for several firsts that changed the
retail industry. Macy's was the first retailer to promote a
woman, Margaret Getchell, to an executive position, making
business history. Macy's pioneered such revolutionary business
practices as the one-price system, in which the same item was
sold to every customer at