Pros
They're part of a household name, and it doesn't seem to matter how mediocre their online presence is because they will continue to make money. They have a very generous sick time policy. Office culture is confused. The macys.com offices in other cities are as modern as the SF location, but the SF location is still very far behind other tech companies in the SF area. Generally the company has a good work/life balance, your experience will have more to do with your specific manager than the overall company.
Cons
Very few company observed holidays (6). Very high turn employee churn. Very poor training. Very poor understanding of technology in general. You can't really consider macys.com to be a dotcom. They're doing nothing but increasing revenue, and in 2013 the company was shattering the expected sales figures so they increased the company goals halfway through the year, the company did not meet these adjusted goals and while the stocks and stockholders benefited from the best year of sales macys.com has ever had, the company did not reward their employees with bonuses because technically we did not meet our (revised) sales goals. The company does not have a QA department that looks at every portion of updated content. An example of tech failure is the company's poor understanding of phone apps (macys.com does not create the mobile app in house). In the last 2 years the iphone app has never had more than 2 stars and never had more than 100 reviews because it is constantly renewed in the store removing all of the negative app reviews. The in house tools to update the website are painfully difficult and out of date.