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Macy's was founded in 1851 by Rowland Hussey Macy as a dry goods store in downtown Haverhill, Massachusetts. In 1858, Macy moved to New York City and founded a new store named R.H. Macy & Company on the corner of 14th Street and 6th Avenue, which later moved to 18th Street and Broadway on the "Ladies' Mile", the 19th century elite shopping district, where it remained for nearly 40 years.

Guinness World Records lists Macy's Herald Square flagship as the world's largest department store building, with 198,500 m² (2,150,000 ft²) of selling floor. However, some claim that other stores are larger, such as the GUM store in Moscow, Russia, or Tobu's Ikebukuro branch in Tokyo.