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Macy’s Attracts Czech Billionaire Investor After Share Drop

  • Kretinsky takes 5% stake after a bout with Covid-19 in March
  • Move follows Macy’s delaying its quarterly earnings report
Daniel Kretinsky
Daniel KretinskyPhotographer: Joel Saget/AFP via Getty Images
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Czech billionaire Daniel Kretinsky took a stake in Macy’s Inc. and plans to engage management on ways to improve performance of the struggling U.S. retailer.

Kretinsky’s Vesa Equity Investment amassed a 5% holding in Macy’s for strategic investment purposes, according to a securities filing. The purchase makes him one of the company’s top five shareholders, according to Bloomberg data.