On the company's first day of business on October 28, 1858 sales totaled US.08, equal to 6.15 today.
"Macy's doesn't seem to have a unique spot in consumers' minds," she said.
Macy's cut its earnings forecast for the full year to end-January to $3.85-$3.90 per share, excluding charges associated with the cost-savings program, from its previous forecast of $4.20 to $4.30 per share.
“Macy’s is cutting the fat, becoming a leaner organization," said Lisa Haddock, marketing lecturer at San Diego State University, of why the shares rose.
But Haddock said Macy's, like many other traditional bricks-and mortar retailers, faced an uncertain future as more and more consumer demand shifted online.
The company also operates macys.com, and Bloomingdale's By Mail. MST management works closely with department store divisions, the corporate office and merchandise vendors to identify new opportunities and ensure that Macy's systems can adapt to changing business conditions.
Most recently, MST has concentrated on leveraging the explosive growth of the Internet and e-commerce to expand Macy's markets.
The company's shares rose 2.8 percent to .15 in after-hours trading on Wednesday as investors cheered its plan to reduce costs by 0 million by consolidating regions and call-centers.
The jobs to be eliminated include 3,000 store workers, though about half of those employees will be put in other positions, as well as hundreds of back-office and senior executive posts, the company said in a press release.
The value of Herald Square has been estimated at around billion.
Macy's was founded by Rowland Hussey Macy, who between 18 opened four retail dry goods stores, including the original Macy's store in downtown Haverhill, Massachusetts, established in 1851 to serve the mill industry employees of the area. Macy moved to New York City in 1858 and established a new store named "R. Macy & Co." on Sixth Avenue between 13th and 14th Streets, which was far north of where other dry goods stores were at the time.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2006 sales of billion. Web Sites: MST was formed in 1985 to consolidate the diverse data processing operations of Macy's, Inc. Long recognized in the retail industry for its leadership position in technology, MST provides an integrated line of high-performance retail, electronic commerce, and data warehouse systems for use at all levels within Macy's.