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Macy's (originally R. H. Macy & Co., stylized as macy*s) is an American department store chain founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994 (later renamed as Macy's, Inc. in 2007), as a Bloomingdale's department store chain affiliate. As of 2015, Macy's was the largest U.S. department store company by retail sales. As of February 2019, there were 584 full-line stores with the Macy's nameplate in operation throughout the United States and its territories of Puerto Rico, and Guam. Macy's Herald Square, at Herald Square in the Manhattan borough of New York City, acts as the company's flagship store. The company had 130,000 employees and earned annual revenue of $24.8 billion as of 2017.Macy's conducts the annual Macy's Thanksgiving Day Parade in New York City since 1924 and sponsors the city's annual Fourth of July fireworks display since 1976. Macy's Herald Square is one of the largest department stores in the world. The flagship store covers almost an entire New York City block, features about 1.1 million square feet of retail space, includes additional space for offices and storage, and serves as the endpoint for the Thanksgiving Day parade. The value of Herald Square estimates at around $3 billion.