Activist Investors Urge Macy's to Restructure Real Estate and Bloomingdale's
TL;DR Summary
Activist investor Barington Capital has acquired a stake in Macy's and is urging the retailer to explore strategic options for its Bloomingdale's and Bluemercury brands, as well as to establish a separate real estate unit. Barington, in partnership with Thor Equities, believes these moves could significantly increase Macy's market value, which currently stands at $4.6 billion. The investors are also advocating for reduced capital expenditures and substantial stock repurchases, while seeking board representation. Macy's has faced similar pressures from other activist investors in the past.
- Activist investor pushes Macy’s to expand Bloomingdale’s business, create real estate unit New York Post
- Another activist takes aim at Macy's, seeking spending cuts and real estate restructuring CNBC
- Activist Investor Pushes Macy’s for Changes, Including New Real-Estate Unit The Wall Street Journal
- Activists Push Macy’s to Cut CapEx and Consider Selling Bloomingdale’s WWD
- Activist investors call on Macy’s to hive off real estate properties Financial Times
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