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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, through which it is affiliated with the Bloomingdale's department store chain; the holding company was renamed Macy's, Inc. in 2007. As of 2015, Macy's was the largest U.S. department store company by retail sales. As of 2017, there were 669 full-line stores with the Macy's nameplate in operation throughout the United States, Puerto Rico, and Guam. Its flagship store is located at Herald Square in the New York City borough of Manhattan.