Activist Investors Urge Macy's to Revamp Real Estate Strategy

Activist investor Barington Capital, in partnership with Thor Equities, has taken a stake in Macy's, urging the company to cut spending, consider selling its luxury brands, and reassess its real estate portfolio. This marks the fourth activist push at Macy's in a decade, as the retailer struggles with declining sales and store closures. Barington suggests Macy's could benefit from share buybacks and real estate restructuring, valuing its property assets between $5 billion and $9 billion. Macy's plans to close about 150 stores by 2027 while investing in its stronger brands.